NEW FORMULA: Regents Discuss Changing Aid Disbursement

The Board of Regents is considering a new formula for splitting up money to State Universities.

President Craig Lang and President Pro-tem Bruce Rastetter talked about the issue during a taping of IPTV’s Iowa Press.

In years past, the universities received state aid based on their size.

Instead, the regents say they want Iowa money to follow Iowa students. That would mean UNI, which has a higher percentage of in-state students would receive more money, compared to Iowa and Iowa State.

“Today money is split 40 percent Iowa, 40 percent Iowa State, 20 percent UNI, when that was established all three schools had a high percentage of in-state students. UNI is the single school today that has the highest percentage. So this idea would have to be transitioned over time and we’d have to look at all the ramifications,” Rastetter said.

The regents say a change in the formula would likely hurt the University of Iowa, so they’ll consider the consequences before moving forward.