An earlier post to this blog described an Illinois task force charged with analyzing the use of private loans for postsecondary education. Other 2010 legislation in Illinois called for the creation of a Higher Education Finance Study Commission.
This commission's final report, released last week, gives considerable attention to the notion of adopting a performance-based funding system for Illinois colleges and universities. The report describes performance-based funding efforts in Ohio, Indiana, Tennessee, Texas and Washington State, identifies how performance funding can be used to achieve goals beyond postsecondary completion, analyzes the components of a "good" performance-based funding model, and makes recommendations for future state action, in both performance-based funding as well as other areas of state policy, including financial aid, and adequacy and predictability of higher education revenues.
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