FUNDING CHANGE: Board Of Regents Approves New Formula

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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.