Senate Majority Leader Rodney Tom, chairing a higher education legislative advisory committee earlier this month, suggested shutting down the GET program, because he believed it was underfunded and would eventually drain the state’s general fund.
But Tom was wrong. State Treasurer Jim McIntire and state actuary Matt Smith told the Legislature that reform measures already implemented have stabilized the program. If colleges and universities do not raise tuition for the next two years, or if the state increases its share of funding for higher education, the program could reach complete solvency in as little as two years.
