The "public" component of public higher education is rapidly eroding, with public colleges now getting more than 43 percent of their revenues from student tuition as opposed to state and local taxpayers, compared to less than 30 percent as recently as a decade ago.

The figures come from a new report out today offering the latest snapshot of who pays the bill for America's public colleges and universities, which educate roughly 70 percent of students. SHEEO, a group representing state higher education officials, finds that amid surging demand for college, per-student state and local funding for higher education has fallen 12.5 percent over the last five years.

The SHEEO figures show public colleges have lost more from state funding cuts than they've gained in tuition, with revenue per student down nearly 6 percent since 2008. A record 43 percent of educational revenue now comes from students, nearly double the rate from the mid-1980s.

-Associated Press