New state funding plan pushes schools to focus on graduation rates
Gov. John Kasich announced a new funding model Friday that would give public universities more money for graduating students rather than tying money primarily to enrollment.
Under the Ohio Higher Education Funding Commission’s plan, which was developed by leaders from a group of schools, half of each university’s funding will hinge on its graduation rate. Other incentives would promote keeping out-of state students in Ohio and recruiting nontraditional and at-risk students.
These new standards will help policy makers decide how to divide the annual $1.75 billion in state funding for higher education between universities.
The plan still has to be approved by lawmakers, and further details are expected to be unveiled in early February when Kasich submits his two-year state budget plan.
President Lloyd Jacobs said he supports the new budgeting standards in principle.
“The new funding model pushes colleges and universities to focus on outcomes, which is good,” Jacobs said in a statement. “It however does necessitate a level playing field at the outset.”
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