Taylor Reveley, the president of the College of William & Mary, has spent a lot of time thinking about college financing, and he knows some of his ideas are politically unpopular, Virginia Business reports. But that hasn’t stopped Reveley from proposing a striking new model for the 318-year-old school that that could help ignite a debate on the way Virginia funds higher education.  Since state funds are shrinking, he reasons, why not let the market determine college costs? Thirty years ago, state funding represented 43 percent of William & Mary’s operating budget. In 2000, it provided 28 percent.  Today, state money represents about 13 percent and is, in Reveley’s words, “heading south.” William & Mary’s situation mirrors problems at many public colleges and universities across Virginia for whom the state has become an increasingly unreliable financial partner…

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