(Charleston-AP) Governor Mark Sanford was in Charleston today to discuss a proposal to allow South Carolina's public colleges and universities to privatize and become not-for-profits. The proposal makes the schools free from state regulation by the Commission on Higher Education. It would give the schools more flexibility to exercise self-governance in areas like procurement, human resources, capital planning and fund-raising.

Sanford says it also would free the state to devote funds to other education needs in South Carolina. Under the proposal, all buildings, real estate and capital improvements would be transferred from the state to the schools that choose to accept the offer.

Those schools would forego any direct appropriations from the state and agree to charge a preferred tuition rate for qualified South Carolina residents.