Any university that doesn’t receive at least 26 points under the new 50-point system will lose 1 percent of its state funding in 2014-2015. Those schools also would be ineligible to receive any additional money allocated for performance funding.
This is a departure from the model implemented earlier this year, which allowed all active state universities to share $20 million. That ranged from $2.6 million for the top performers, University of South Florida and University of Central Florida, to a low of $434,783 for New College of Florida. (Florida Polytechnic University doesn’t have students yet, so it is ineligible for performance funding.)
Schools will receive points based on how well they perform or show improvement in categories like six-year graduation rates, the number of students pursuing degrees in science, technology, engineering or math, percentage of graduates who get a job or continue their education, and average wages graduates earn.
New College President Donal O’Shea said he ran the numbers on the new model and his school isn’t projected to reach 26 points unless one more Pell grant recipient enrolls. Based on state funding for the current year, New College could be penalized $158,511 if it does not get the extra point.
