Written by: Sasha Reva
Gov. Gavin Newsom and the legislature reached a deal that will provide $500 million toward affordable student housing this year and possibly up to $2 billion in future years. Housing is one of the major expenses students pay for, and experts say it’s “a drop in the bucket” compared to what’s needed.
Most students are struggling with finance due to the enormous prices. Democrats have poured $500 million into this year’s state budget so that public colleges and universities can build affordable housing, but apparently, the prices are enormous.
The housing program lawmakers approved last week is waiting
for Gavin Newsom’s expected signature is a new part of the cash in the state budget this year. Originally, the governor proposed $4 billion for student housing.
The UC had 100,000 beds available for students last fall and expect 25,000 more by 2025, but the system enrolls 285,000 students. It will never be enough for the place because the budget is small and the prices are sky racing.
Some measures look at the price per bed, which lowers the average cost by placing three students into a room. “We don’t have a per-bed cost estimate,” said Palmer of Newsom’s Finance Department. Democrats continue to pour money into areas that need change altogether. The relief that students receive from this bill is great. However, it is a waste of money because the housing expense will continue to persist long after this measure expires.
Photo from: Servitas