Board OKs new funding model for universities

LOUISVILLE, Ky. (AP) – State funding for Kentucky’s public colleges and universities will be determined by how many and what types of degrees its students earn under a policy finalized by state regulators.

The Council on Postsecondary Education approved the details of a new state funding model that state lawmakers passed earlier this year.

From now on, 35 percent of state funding for public colleges and universities will be based on the types of degrees awarded. Of that, 5 percent will be determined by the number science, technology, engineering and math degrees; 3 percent based on degrees for low-income students and 3 percent based on degrees for minorities.

The model is based on Republican Gov. Matt Bevin and others’ push for more focus on training people for the types of advanced manufacturing jobs state officials are wooing.

Categories: News, State News

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