AMES, Iowa (AP) — The Board of Regents is adopting a funding plan that could shift tens of millions of dollars away from the University of Iowa to the state's two other public universities.
The plan adopted Wednesday marks the biggest change to Iowa higher education funding in decades.
Starting next year, a majority of nearly $500 million in state funding would go to the universities based on the number of Iowa students they enroll. The rest would be based on performance measures.
If adopted immediately, the plan would shift $47 million from the University of Iowa to the University of Northern Iowa and Iowa State University. But it'd be implemented over three years to minimize the impact.
Supporters say the new model gives universities more incentive to recruit Iowa students and meet goals.