Colorado’s higher education funding formula rewrite takes another shot at putting a focus on students
Colorado lawmakers are updating the state's higher education funding formula to better reward colleges for student outcomes, including retention and graduation rates. The changes aim to direct more money to schools that educate part-time students and transfer students.
Colorado is revising its higher education funding formula for the second time in five years. The original 2021-22 formula allocated funds based on eight metrics, including student retention and graduation rates. However, college leaders felt it prioritized funding stability over rewarding schools for helping students. The updated formula, proposed in House Bill 1345, expands metrics to include part-time students and transfer students. It also creates new levers for lawmakers to reward excellent performance. The changes will take effect in the 2027-28 school year and rename the formula to 'results-informed funding.' Colorado Mesa University President John Marshall and Metropolitan State University of Denver President Janine Davidson have expressed reserved optimism about the updates.
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