Changes to Higher Education Funding Formula

By Missourinet

Published 08/28 2014 08:41AM

Updated 08/28 2014 08:45AM

JEFFERSON CITY, Mo. -- The way Missouri taxpayers fund higher education is changing today.

A new law requires state colleges and universities to set standards for student retention, graduation rates, and job placement.   Ninety percent of any proposed funding increase for any given school will be based on whether the school has met its own standards.

The schools could set easily-achievable goals but the sponsor of the bill, Senator David Pearce (R-Warrensburg), doesn’t think that’s likely.  “I’m very confident universities will come up with rigorous standards…The department of higher education…will have some input to say, ‘…this really probably isn’t strong enough,’” he says.

The legislature, which appropriates money to the institutions, also can evaluate the standards.  He says Universities that don’t achieve will get smaller funding increases, or no increases, a situation that will send a message to a university’s governing board members that things need to be improved.

The bill is becoming law today but its impact won’t be felt until the next state budget is written.

AUDIO: Pearce interview 17:07



(Bob Priddy, Missourinet)

Copyright 2015 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.