Millions of dollars from the new tax revenue earmarked for the University of California system as part of the state's recently passed Proposition 30 will instead be routed to major financial firms because of bad bets made by a Wall Street-influenced UC Board of Regents. Over the last decade, tuition and fees for undergraduates in the UC system have tripled, adding enormous debt burdens to UC graduates and pushing lower-income students into the already overstretched state college and community college systems, or out of higher education altogether.
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