Associate Professor of Urban Planning and Public Policy Paavo Monkkonen spoke to CalMatters about the $500 million in state funding allotted by Gov. Gavin Newsom for affordable student housing. The housing crisis in California has also impacted students, and the funding is meant to help public colleges and universities build affordable housing or renovate existing property through a grant process. Monkkonen noted that the housing aid is a good use of state money. “Unlike grant money or financial aid, housing is a one-time expense that pays dividends because it can be used repeatedly,” he explained. However, experts have agreed that the $500 million package will not be enough to create all of the necessary housing units for public students across California. “A better system would be one in which there’s a long-term plan to grow the stock sufficiently that everyone that wants to live there, can,” Monkkonen said.
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