Funding formula affects area universities

Funding formula affects area universities

SAVANNAH, GA (WTOC) - Georgia's public colleges will now earn money based on how many students earn diplomas rather than how many enroll.

The goal is to stop rewarding campuses for getting students in the door and reward them instead for getting students out the door with degrees.

A commission appointed by Gov. Nathan Deal approved a new formula Wednesday that links the state funding colleges receive to their improving student success and the number of degrees or certificates awarded. The plan, which won't go into effect for a couple of years, represents a drastic shift from the current system that focuses on enrollment and how many credits students take. Right now, Armstrong Atlantic University has a 31 percent graduation rate and administrators feel hopeful their funding will improve.

"We are seeing improvements in their graduation rates and our retention rates and our success rate with some of those student groups," said Armstrong Atlantic University Provost and Vice President for Academic Affairs Carey Adams. "We are actually excited about this move."

Colleges and universities like Armstrong can receive extra money if they succeed with students who are known to struggle the most in school.

This won't go into effect until the 2016 fiscal year when colleges will earn or lose money based on whether they improve.

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