A college degree is still the best pathway to future economic security and better opportunities. However, for many students, affordability continues to be the most significant barrier to enrolling in a four-year university, especially for Latinos, of which only 1 in 5 adults hold a bachelor’s degree, the lowest rate of any group in Illinois, according to a study by the Latino Policy Forum.

This is a crisis that demands action, which is why we support efforts to pass the Adequate and Equitable Public University Funding Act.

This bill would establish Illinois’ first postsecondary funding formula and is built on three principles: adequacy, which accounts for each university’s unique mission and costs; equity, which prioritizes support for underrepresented students and underfunded institutions; and stability, which protects universities from cuts while gradually achieving adequate funding over 10 to 15 years.

There are many reasons why affording college is so challenging in Illinois, but among the biggest is disinvestment. In the early 2000s, Illinois began cutting investments in higher education, which led to enrollment declines and forced state universities to raise tuition and limit student support. This has made the cost of a higher education inaccessible for many students, especially Black, Latino, rural and low-income students, and much harder for the students remaining to persist and graduate.

Without adequate funding to offset costs, students are left with fewer resources, higher tuition costs and reduced support services. Campuses are asked to do more with less, innovation slows and access becomes more limited, especially for first-generation students and working-class families.

Today, Illinois tuition and fees are significantly higher than the national average and require 19% of the median household income, research by multiple organizations shows. For families with disproportionately low incomes, college costs pose a prohibitive barrier to access.

Federal pressure, cuts also squeeze schools

All of this is unfolding against the backdrop of a volatile federal government whose shifting approach to student financial aid and grant funding places even greater stress on state institutions that can least afford it. Recent federal reductions in research funding; diversity, equity and inclusion programs; and support for Hispanic-serving institutions at our public universities — combined with attacks on undocumented and international students — are disrupting college enrollment across the country.

These federal cuts deepen Illinois’ higher education funding crisis and threaten our future workforce. At a time when campuses in Illinois need stability, we must continue to fund the programs and pathways that support student success, help students graduate and sustain our workforce pipeline.

The Adequate and Equitable Public University Funding Act is a balanced solution that would provide sustainable funding for public universities, enabling the state to strengthen institutions and support students on their path to a degree. And although the bill would require an additional $135 million annually for 10 to 15 years, it is entirely feasible when you put the price tag in perspective. The cost of providing our students equitable access to a four-year program is less than a quarter of 1% of our entire state budget, and it becomes even more feasible if Gov. Pritzker releases the full 3% annual funding increase already allocated for public four-year institutions. Our lawmakers must prioritize this.

The question is not whether we can afford to make this investment. It is whether we can afford the long-term consequences of failing to do so.

Updated projections show the legislation could generate 122,200 more bachelor’s degree holders over 15 years, increase annual state tax revenue by $691.5 million, produce $156 million in yearly state savings in public assistance and incarceration costs, and drive $5.3 billion in additional local economic activity each year. That’s the economic impact of ensuring students, especially those with the greatest need, can enroll in and complete college. Illinois needs that growth and opportunity to remain competitive and strong.

Illinois must act now before federal uncertainty pushes another generation away from higher education. Without stronger state investment, families may look out of state — or decide college isn’t possible at all. If the Adequate and Equitable Public University Funding Act fails to pass, our public universities could face closures. The future of our state depends on ensuring that every student who aspires to earn a degree has a real opportunity to do so.

Yes, Illinois faces budget pressures. But adequately funding higher education is not an expense; it is a way to shield students from federal instability and invest in the state’s economic future.

Without it, all Illinois students will face growing uncertainty. The new formula would offer a path toward financial stability and a prosperous Illinois by strengthening all public four-year institutions and, most importantly, the students they serve.

State Rep. Norma Hernandez serves the 77th District and is a member of the House Higher Education Committee. Jennifer Juárez, Ph.D., is director of higher education policy at the Latino Policy Forum.