University of California regents met in San Diego this week to discuss how to close a $1 billion budget gap. UC President Mark Yudof said thousands of qualified applicants will be turned away because of a proposed $500 million budget cut for 2011-2012, and other "unavoidable" expenses. The California State University system is also facing massive budget cuts that could lead to layoffs, and higher tuition. We discuss how the budget cuts could impact California colleges.