With the UNM Board of Regents embracing tuition hikes by 2.5% and the Athletic Department looking for a bailout, it is worth noting that as a percentage of personal income, New Mexicans support higher education more than any other state in the nation. This is according to a new report from our friends at the 1889 Institute based on Oklahoma. The full report can be found here.
Hint, this is by no means the only government spending area in which New Mexico government spends more than other states, but higher education is widely-reported as an area in which New Mexico is a big-spender. As the chart below shows, the US average for state/local higher education spending is 1.76% percent of personal income. New Mexico spends 3.25% which is highest in the nation and economically-booming Florida is at a mere 1.12%.
So, it would be great if UNM in particular would cut back on spending, but until there is enough political pressure to cut back, it seems that nothing will hold higher education in New Mexico to account.
