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Higher education financing trends… national patterns and implications for Illinois. Jane V. Wellman Illinois Higher Education Finance Commission Chicago, IL August 27, 2010. Topics to be covered . Major take-aways from national research re: trends in revenues and spending
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Higher education financing trends… national patterns and implications for Illinois Jane V. Wellman Illinois Higher Education Finance Commission Chicago, IL August 27, 2010
Topics to be covered • Major take-aways from national research re: trends in revenues and spending • Pricing, spending and subsidy trends • What the data say about adequacy and equity • Recommendations about future focus for IL
National patterns: Where the money comes from Source: Delta Cost Project IPEDS database, 1987-2008, 11-year matched set. Note: In private institutions, investment returns include unrealized gains/losses.
National patterns: Where the money goes Operating expenses per FTE by major category, 1998 – 2008, in 2008 $
Spending within E&R, 1998-2008 (in 2008 $) National patterns: Where the money goes within E&R
Public Research Institutions: Average Subsidy/Student share of E&R Spending per student by State, 2008 Illinois
Illinois/National Comparisons - Public Research Sector - AY 2008
Public Masters’ Institutions: Average Subsidy/Student share of E&R Spending per student by State, 2008 Illinois
Public Community Colleges: Average Subsidy/Student share of E&R Spending per student by State, 2008 Illinois
Illinois/National Comparisons – Public Community Colleges AY 2008
Public sector changes in E&R spending per student, and in student share of costs, 2003-2008
Degrees & Certificates awarded per FTE vs. Total Funding per FTE (2006-2007) Source: SHEEO State Higher Education Finance Survey 2008: NCES IPEDS Completions Survey
Recommendations for future Illinois policy focus • Anchor financing strategy on using resources to meet goals • Adequacy focus will always put pressure on increasing revenues in research sector • Equity considerations and student share of costs appropriate factors to include • Build expectations for strategic cost management and productivity into fund management • Look for evidence of sustained investments in core functions • Develop – and use – metrics for monitoring spending including cost-management that address subsidies, prices as a share of costs, and how resources are used • Pay attention to state as well as institutional role in finding long-term solutions • Include attention to private providers