studentfundingact

studentfundingact - Coordinating Board for Higher Education...

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Coordinating Board for Higher Education Policy on Higher Education Student Funding Act Implementation Section 1. General Description and Intent Tuition is set by the governing board of each Missouri public institution of higher education. Governing board members have relationships with the institutions they represent that give them insight into the needs of the institution, state funding levels, and the extent to which students can be asked to contribute to the cost of their education. State law, however, now provides for the Coordinating Board for Higher Education and the Commissioner of Higher Education to have some role in reviewing the tuition setting process. Institutions that increase tuition at rates that exceed the rate of inflation must either return a portion of their state appropriations to the state or must ask the Commissioner to waive the financial penalty in whole or in part. This policy sets forth the statutory language on tuition increases, defines relevant terms, describes the procedures for seeking a waiver, and lists some of the factors the Commissioner may weigh in assessing institutions’ waiver requests. Section 2. Statutory Language 173.1000. The provisions of sections 173.1000 to 173.1006 shall be known and may be cited as the "Higher Education Student Funding Act". 173.1003. 1. Beginning with the 2008-2009 academic year, each approved public institution, as such term is defined in section 173.1102, shall submit its percentage change in the amount of tuition from the current academic year compared to the upcoming academic year to the coordinating board for higher education by July first preceding such academic year. 2. For institutions whose tuition is greater than the average tuition, the percentage change in tuition shall not exceed the percentage change of the consumer price index or zero, whichever is greater. 3. For institutions whose tuition is less than the average tuition, the dollar increase in tuition shall not exceed the product of zero or the percentage change of the consumer price index, whichever is greater, times the average tuition. 4. If a tuition increase exceeds the limits set forth in subsections 2 or 3 of this section, then the institution shall be subject to the provisions of subsection 5 of this section. CBHE Policy on Higher Education Student Funding Act Implementation Initially adopted 12.18.08; revised version adopted 1.14.09 1
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5. Any institution that exceeds the limits set forth in subsections 2 or 3 of this section shall remit to the board an amount equal to five percent of its current year state operating appropriation amount which shall be deposited into the general revenue fund unless the institution appeals, within thirty days of such notice, to the commissioner of higher education for a waiver of this provision. The commissioner, after meeting with appropriate representatives of the institution, shall determine whether the institution's waiver request is sufficiently warranted, in which case no fund remission shall occur. In making this
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studentfundingact - Coordinating Board for Higher Education...

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