FUNDING CHANGE: Board Of Regents Approves New Formula
The Iowa Board of Regents will change university funding next session.
Members approved the new funding formula Wednesday.
Under the proposal, Iowa’s three universities would get 60-percent of state funding based on the amount of in-state students enrolled.
The plan could cost the University of Iowa $60-million because the school has the highest number of out-of-state students.
A further 15-percent of funds measures progress and attainment. A 10-percent weighting takes into account student diversity measured by low-income students, minorities, Iowa community college transfers and veterans.
The new funding model will be implemented over the next three years.
For a full breakdown, click here.