The Iowa Board of Regents approved a plan that changes the way state money is allocated to the three state-supported universities. The board made a few modifications which will give 60-percent of the state money to the University of Iowa, Northern Iowa and Iowa State University based on the enrollment in-state students. Former Regent, David Miles, led the task force that came up with the recommendations for the funding change. He says the governor and legislators need to look at restoring funding to past levels.
The new model has come under fire as the University of Iowa has the lowest percentage of in-state students and would see the biggest loss in funds. Miles says the task force heard those concerns.
The plan would divert around 47-million dollars from the U-I. He told the board that this proposal is a starting point.
The board approved an amendment to the proposal that would allow them to use five percent of the money for targeted research programs
The Board of Regents approved the plan 8-1, with Regent Robert Downer of Iowa City the only no vote. The new model is dependent on the governor and legislature providing the required funding.
