Presumptive GOP gubernatorial candidate Bob McDonnell released a higher education plan Tuesday that he says would be worth about $400 million to Virginia.
His five-point proposal aims to create an additional 100,000 graduates at state two- and four-year schools over the next 15 years and requires public institutions to save money.
McDonnell presented the plan in an afternoon speech at George Mason University and in a conference call with reporters.
Awarding more degrees would mean more state residents could be accepted to Virginia colleges, and saving operational costs could make tuition more affordable, said the former state attorney general.
"We have got to do a much better job addressing both affordability and employability," McDonnell said in the conference call.
His goal is to see 55 percent of Virginians with some sort of advanced degree. College graduates pay $2,800 more in taxes per year than other residents and cost the state $974 less per year in social services, McDonnell said.
But while he wants colleges to save money by consolidating or eliminating some programs, he also wants to see more of a focus on science, math and technology.
That push would address the needs of businesses in Virginia, who seek workers with skills in these areas.
And it should begin in earlier years of education - way before students seek higher degrees.
"We need to make it fashionable and cool to be a geek," McDonnell said.
In addition, if elected, he would improve workforce development at the state's community colleges and encourage more public-private partnerships in higher education.
The latter could encourage new research and development of green and renewable energies and could be paid for with royalties collected from off-shore drilling, he said.
All told, the plan would mean about $400 million in either new revenue or savings to the state, McDonnell said.
"That's a substantial return for the taxpayer," he said.
State spending on higher education for too long has not been a priority in Virginia, McDonnell said. It has dropped from about $10,000 per student in 2000 to a bit more $6,000 per student, he said.
McDonnell will face the winner of a three-way Democratic primary. Former Democratic National Committee chairman Terry McAuliffe, former Del. Brian Moran of Alexandria and state Sen. R. Creigh Deeds of Bath County square off in that contest June 9.
The general election is Nov. 3.
Staff writer Jonathan Hunley can be reached at 703-369-5738.
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