How much is a ‘bachelor’s degree’ worth?
Kentucky’s economy has been the most robust in the country since the Great Recession, and it continues to grow at a brisk pace.
The state has also been hit hard by the state’s new budget, which has put a hold on a series of state incentives and reduced other spending.
But with all the uncertainty, the state’s economy is already looking more like the one of 2010, when Kentucky had a $16.5 billion budget surplus.
Matt Bevin has been trying to make good on that surplus with a budget that would help lift the state out of a budget hole, but there’s still a lot of money left to cut.
There are currently more than 1,300 state and local agencies, including the state health care system, that have a budget surplus of more than $1 billion, according to the Office of the Auditor General.
In fact, more than $30 billion of Kentuckians budgeted to date is in deficit.
“We have a huge backlog of over $2 billion in non-recurring costs,” said Kentucky Treasurer Ryan Winger, in a statement.
Winger said the state is in the process of reinstating a $4.6 billion program to help reduce state spending, but that will take longer than anticipated.
And there are still many more non-recruiting budgetary cuts to come, Winger said.
What’s a bachelor’s degree worth?
As Kentucks health care system was forced to lay off workers in February, there’s been an outpouring of interest from prospective students and their parents, who want to get a handle on the cost of a Bachelor’s Degree. Bartender David Lee said his business is struggling because he’s not in a position to offer students a discount.
Lee, who recently started his second job as a bartender for a living, told Business Insider that he has received offers for a $30,000 or $35,000 BBA, but he said he can’t afford either because of the financial hardship he’s going through.
Asking students to pay more is not going to help them achieve the bachelor degree that they need, Lee said.
“I’m hoping that I can make them understand that it’s a lot more than just a degree,” Lee said.
But he said the debt is something that could help the state in the long run.
If a student has a B-Plus, they could have a higher income than a student who doesn’t have a B-Plus.
When asked if the new state budget would help those students, Benson said the money would go into the budget of localities and government to help them with recruits and additional programs.
He said these budgets could help improve Kentauge’s economic future. With that plan, he said it would be possible to continue to grow the economy and help people get the most out of their education.
To help students like Lee, Winge said that they should work with their colleges to offer bachelors in specialty areas and offer them a discount on their education as well.
While Kentuckedians can pay more for a bachelor degree, they also need to be aware of what they are spending on their education.
More stories from KentUCKY.com