UC: "For only 32% more... or just two macbooks a year"

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That $2600 you have lying around? The California Board of Regents wants it starting next fall. Students gathered to protest the hike in tuition at universities throughout California for the last two days. When all was said and done a student was tasered, and 14 people were taken into custody. Unfortunately none of this will make much difference as Bob Meister, professor at UC Santa Cruz and President of the Council of UC Faculty Associations writes:

"[the] UC pledges 100% of tuition to maintain its bond rating, it has also implicitly assured bond financiers that it will raise your tuition so that it can borrow more. Since 2004, UC has based its financial planning on the growing confidence of bond markets that your tuition will increase. (Why? Because you've put up with this so far, and because UC has no other plan. Its capacity to raise tuition is advertised in every bond prospectus.)"

How much interest will the UC pay on bonds this year? $300 million.

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11 2009

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