Illinois Bill Introduces Novel Higher Ed Funding Model  

State lawmakers in Illinois proposed a new funding model that prioritizes adequate and equitable allocations for the state’s colleges and universities. Titled the Adequate and Equitable Funding Formula for Public Universities Bill, it was introduced in preparation for the next legislative session. The aim is to make college more accessible for Illinois students by increasing state funding to prevent tuition hikes and filling funding gaps between flagships and regional institutions. 

• The legislation mimics revamped K-12 funding models that remediate underfunding of schools that need higher student support but have lower property tax revenue. The bill outlines a formula that takes into account the size of institutions, their academic programs and demographic factors of students such as socioeconomic, racial and geographic diversity.  

• Combined, these variables can calculate adequacy targets, or the optimal amount of annual funded needed to serve enrolled students. 

• There are still some elements that lawmakers expect will be contested, such as how to factor in graduate programs, endowments and tuition revenue from the colleges.  

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