Under the budget bill passed by the House last week, state funding for higher education will increase modestly over the next two years, with growth both in financial aid resources and institutional funding.
The proposed House budget would increase state financial aid $71,700 in FY 2019 and add a further $8.2 million for FY 2020. Key steps include:
The proposed House budget would also increase overall state funding to public postsecondary institutions by $11.3 million for 2019. For 2020, no additional funding would be added, and part of the total would be allocated among institutions as performance-based funding based on their success at meeting goals.
Looking at individual institutions, the plan for FY 2019 would provide:
Want Further Detail?
We’ve created a PrichBlog summary with one page to show financial aid changes and a second to show the institutional budgets. You can download that here, or view the complete budget bill as approved by the House here.
Since 1983, the Prichard Committee has worked to study priority issues, inform the public and policy makers about best practices and engage citizens, business leaders, families, students, and other stakeholders in a shared mission to move Kentucky to the top tier of all states for education excellence and equity for all children, from their earliest years through postsecondary education.