Budget cuts hurt Calif. state universities hard - Bill Whitaker, CBS News

California is home of some of the greatest universities in the nation. But at a time when a good education is more critical than ever, budget cuts are hitting state schools hard. And, as CBS News correspondent Bill Whitaker reports, students are paying the price. Southern Californian Eric Pedroza -- who is the first in his extended family of 84 to graduate high school -- was accepted at Yale and Columbia. However, he chose to study neuroscience at UCLA. "I stayed here for in-state tuition," he explained. "Private school tuition was out of my league and I don't receive any help from my parents at all." He works three jobs and got a scholarship and a federal Pell grant -- just enough to cover this year's tuition of $11,124. He's not sure about next year.