Over the next several weeks 18.4 million students will be headed to colleges and universities in the United States. They, their families and taxpayers are making a monumental investment in the futures of these students, believing, correctly, that an undergraduate education is foundational to success in a global and knowledge-based economy.
Under a new state law, Rhode Island's public colleges won't get additional state funding simply for enrolling more students. They will have to prove that they're making progress on goals such as increasing graduation rates.
Over 30 states now partially—or in Tennessee's case, almost completely—fund higher education based on metrics such as graduation rates, course completions and the share of low-income students enrolled. States have applied these formulas only to two-year colleges, only to four-year colleges, or to all their public institutions.
