2008 Woodie Awards
Academic funds given to university
By Greg Reedy
Rocket Editor-in-Chief
Issue date: 9/30/05 Section: News
Slippery Rock University received $2,723,500 from the state in performance funding this year.
Overall, the state system awarded $31.2 million in performance funding for the 14 state-owned universities. The amount of funding was equal to 7 percent of the appropriation of money given to the State System of Higher Education by the Commonwealth of Pennsylvania. This is the most money given out in performance funding in the program's history.
The Board of Governors started the program six years ago to reward universities that improve in areas like retention. In the first year of the program, only $2 million was awarded. Last year, $21.6 million was awarded in performance funding.
"The reason we looked at retention rates is because the most common time students drop out is between their freshman and sophomore years," Kenn Marshall, media relations manager for the state system of higher education, said.
Universities can get more money based on how they do in certain criteria. Those criteria include number of degrees awarded, second-year retention rates, four-year and six-year graduation rates, faculty productivity, which means how many total credits per instructional faculty, employee diversity, instructional cost and terminal degrees, which is based on the number of faculty with terminal degrees.
SRU was awarded $212,757 for the number of degrees awarded, $279,725 for second-year retention rates, $200,350 for four-year and six-year graduation rates, $454,382 for faculty productivity, $589,979 for employee diversity, $408,363 for instructional cost and $577,944 for terminal degrees.
For the graduation rates, the state is now looking at how many students graduate in four years, and how many graduate in six years.
"We looked at four-year and six-year rates because we know it's harder for students to graduate because of various reasons, such as students taking longer to declare a major," Marshall said.
"We look at the six-year rates, but we also think that the university should strive to graduate students in four years."
Overall, the state system awarded $31.2 million in performance funding for the 14 state-owned universities. The amount of funding was equal to 7 percent of the appropriation of money given to the State System of Higher Education by the Commonwealth of Pennsylvania. This is the most money given out in performance funding in the program's history.
The Board of Governors started the program six years ago to reward universities that improve in areas like retention. In the first year of the program, only $2 million was awarded. Last year, $21.6 million was awarded in performance funding.
"The reason we looked at retention rates is because the most common time students drop out is between their freshman and sophomore years," Kenn Marshall, media relations manager for the state system of higher education, said.
Universities can get more money based on how they do in certain criteria. Those criteria include number of degrees awarded, second-year retention rates, four-year and six-year graduation rates, faculty productivity, which means how many total credits per instructional faculty, employee diversity, instructional cost and terminal degrees, which is based on the number of faculty with terminal degrees.
SRU was awarded $212,757 for the number of degrees awarded, $279,725 for second-year retention rates, $200,350 for four-year and six-year graduation rates, $454,382 for faculty productivity, $589,979 for employee diversity, $408,363 for instructional cost and $577,944 for terminal degrees.
For the graduation rates, the state is now looking at how many students graduate in four years, and how many graduate in six years.
"We looked at four-year and six-year rates because we know it's harder for students to graduate because of various reasons, such as students taking longer to declare a major," Marshall said.
"We look at the six-year rates, but we also think that the university should strive to graduate students in four years."
