January 23, 2012
BUDGETING FOR COLLEGE COMPLETION
IBHE makes budget recommendation for Fiscal Year 2013,
including funds that reward course and degree completion at community colleges and public universities
SPRINGFIELD –The Illinois Board of Higher Education (IBHE) will make a recommendation to the Governor and General Assembly for Illinois’ higher education budget for Fiscal Year 2013 that rewards college degree and credential attainment.
Carrie J. Hightman, IBHE Chairwoman, said “the Board will adopt a proposed higher education budget that implements a new state law requiring performance-based funding for community colleges and public universities. This first step in implementation of performance-based funding will focus on degree completion, which will help close the achievement gap by rewarding institutions for producing more college completers, in particular students who are academically or financially at risk, or minorities.”
The State’s goal is that 60% of all college-age citizens will complete some level of postsecondary education by 2025. Dr. George Reid, Executive Director for the Board, confirmed that “currently 44% of Illinois adults have an associate’s degree or higher. We need that number to grow, and our colleges and universities will partner with us to make that happen.”
Hightman said “performance-based funding is one component of the Board’s step-budgeting approach that shows the return on every additional dollar invested in higher education, and includes recommendations for all higher education agencies, and programs, including financial assistance.”
The IBHE will meet at 1 p.m. February 7, at Kendall College in Chicago.