The recession of 2007–2009 and its slow recovery led to severe budget cuts in state governments across the United States. Public colleges and universities, which are highly subsidized by state governments, saw dramatic cuts in their budgets, making it more difficult for students to attend and/or complete their degrees. The Chronicle of Higher Education of January 17, 2012, argued that cuts to higher education will “imperil competitiveness” in America. How might the cost savings from reduced educational spending end up costing states even more in the future?