StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Finance in higher Education(State Report:Illinois State ) - Research Paper Example

Comments (0) Cite this document
Summary
While Illinois once enjoyed a high rate of college graduation, enrollment, and affordability when compared to the rest of the country, a disturbing trend appears to be happening today. During the 21st century, there has been a consistent and substantial decline in performance…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
Finance in higher Education(State Report:Illinois State )
Read TextPreview

Extract of sample "Finance in higher Education(State Report:Illinois State )"

Report: Illinois Report: Illinois Current Economic Status of Higher Education at the Level While Illinois once enjoyed a high rate of college graduation, enrollment, and affordability when compared to the rest of the country, a disturbing trend appears to be happening today. During the 21st century, there has been a consistent and substantial decline in performance in regards to higher education when compared to America as a whole.
In the last decade, the average family income has decreased by seven percent, while tuition in higher educational institutions has increased 100%
Ten years ago, the average need-based aid distributed to Illinois residents amounted to $1,000, while today it stands at only $745 (Perna, et al., 2011).
Enrollment Trends
While high school graduation rates in Illinois have increased in the last decade, there has been an actual ten percent decline in university enrollment.
Enrollment at the state’s higher educational institutions has the following breakdown: 25% attend public universities, 43% attend community colleges, and 32% attend private colleges and universities.
Total enrollment in the past decade has grown nearly 12%.
The fastest growing segment of the student population comes from African-Americans and Hispanic/Latino families (Ikenberry, et al., 2008).
Funding Trends
The funding of the higher educational system in Illinois is a result of requests by each respective university or college, recommendations by the Illinois Board of Higher Education, the governor, availability of revenue, and legislative priorities.
In recent years, the amount of money directed to students has decreased in deference to the State Universities Retirement System (SURS). In 2012, 12% of funds were directed to SURS, rather than to students.
Accountability
Each respective public institution is now responsible for setting its own tuition policies
There are few performance incentives currently in place, creating a lack of accountability in the system of higher education in Illinois.
Current Implications of Economic Conditions
Current economic conditions dictate that the funding of higher education in the state cannot keep pace with the rising cost of services rendered.
In a recent study, it was found that there was only an additional $200,000 increase in funding across all institutions compared to the previous. While reflects less than a 3% increase, Illinois actually fares better in this area than all but five other states (Reindl, 2004, p. 35)
Outcomes of Economic Response Actions Anticipated by Institutions
Moving forward, a steering committee will examine and make recommendations in regards to performance-based funding.
According to Rogers (2012), “The Illinois Board of Higher Education will vote on the performance-based funding proposal to pool 0.5 percent of public university budgets and reallocate them based on the level of achievement in terms of certain metrics” (para. 1).


References
Ikenberry, S. O., Layzell, D. T. & Kangas, W.R. (2008). Higher education and Illinois future.
Springfield, IL: The institute of Government and Public Affairs at the University of
Illinois.
Illinois Board of Higher Education. (2013). Planning and Budgeting. Retrieved Feb. 7 from
http://www.ibhe.org/Fiscal%20Affairs/default.htm.
Pena, L., Finney, J. & Callan, P. (2011). A story of decline: Performance and policy in Illinois
higher education Philadelphia, Pa: Institute for Research on Higher Education.
Reindl, T. (2004). State funding for higher education: The squeeze continues. College and
University, 79(4), 35.
Rodgers, R. (2013, February 6). IBHE to vote on performance funding. The Daily Easter News.
Retrieved February 7 from http://www.dennews.com/news/ibhe-to-vote-on-performance-based-funding/article_057e750a-514b-11e1-947e-0019bb30f31a.html. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Finance in higher Education(State Report:Illinois State ) Research Paper”, n.d.)
Finance in higher Education(State Report:Illinois State ) Research Paper. Retrieved from https://studentshare.org/education/1614082-finance-in-higher-educationstate-reportillinois-state
(Finance in Higher Education(State Report:Illinois State ) Research Paper)
Finance in Higher Education(State Report:Illinois State ) Research Paper. https://studentshare.org/education/1614082-finance-in-higher-educationstate-reportillinois-state.
“Finance in Higher Education(State Report:Illinois State ) Research Paper”, n.d. https://studentshare.org/education/1614082-finance-in-higher-educationstate-reportillinois-state.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Finance in higher Education(State Report:Illinois State )

Personal Tax And Estate Planning

On income, yet, many are of the opinion that their tax system is too complicated for understanding, bringing out supporting evidence and some even saying from the outlook of the people comparing the U.K. with other European countries and making their own standing.

Before now, the scheduler system was and was used for ages though abolished, if asked, it will definitely be for the development of the country putting in mind factors like, people are the force of the economy, so taxes imposed must be fair and reasonable which will not be too demanding on the people. The abolishing of the scheduler system has definitely brought difficulties and confusion since it was based on a “Category of treatment” but now it i...
6 Pages(1500 words)Report

Has Government by States Given Way to Inter and Non-State Governance

The application of theories related to the state and its governance can be proved very helpful towards the creation of an effective and well-structured state. However, the phenomenon of a ‘subjective’ interpretation of the above theories is common especially when there are specific targets that need to be achieved by the interested parties (usual participants in a state’s political or social life). For this reason, it is necessary that specific rules and guidelines are followed when studying and interpreting the views of theorists regarding the position, the role and the power of the state.

Within the state, there are many ‘political’ and ‘social’ forces that try to impose their...
10 Pages(2500 words)Report

Provisions for Gas, Electricity, and Water Markets

...Gas, Electri and Water Competition Thirty years ago, the consensus was that network utilities, such as gas, electri and water were essentially natural monopolies where competition was neither feasible nor desirable therefore they were regarded as public sector. However the consensus has changed.Competition is generally seen to be possible and desirable in such utilities therefore regulators now have all primary duties to promote competition. From a regulator`s point of view, it is crucial to have a clear view of what a competitive market is and what can be done, in the real world, to establish the conditions that will allow such a market to emerge. Traditional vs. New Approach The traditional regulation relied on static concept... Electri...
9 Pages(2250 words)Report

Investment Appraisal and Management Control

...) Profitability Index = ---------------------------------------------------------- Initial Investment The rule followed for profitability index: If PI > 1 = Good Investment If PI < 1 = Bad Investment If PI = 1 = May Accept. (Finance Scholar, 2008) Merits: Useful for projects that are divisible Very fexible Used for both large scale as well as small scale investments (FMAccounting, 2008) Demerits: It is very similar to NPV Can be misleading at times, i.e., the profitability index can reject projects with higher net present value though it has higher PI than others Investment Appraisal and Business: Investment appraisal plays an important role for a company’s shareholders. Methods are chosen based on the project life span...
14 Pages(3500 words)Report

Organisational Learning in Educational Institutions

Conventional understandings will be reviewed and reinterpreted based on the actual practice and needs of such organizations.

Most literature on organizational development tends to be for the management of business organizations. But I believe that organizational learning is more crucial for non-profit motivated service organizations such as educational institutions because they are more embedded in society and have greater social as well as economic consequences. Educational institutions are dynamic institutions like many others but they are fundamentally different from businesses for whom most of the conventional organizational change and development theories are framed. A developed and tailored theory of organizationa...
14 Pages(3500 words)Report

A Hydrograph of River Cynon and Design of an Open Channel

... in the computations was based on a actual slope of the gauging station of the river at Abercynon. 3.2. Possible limitations of the design 3.2.1. The design did not include specifications for the length of the pipes because of insufficient data. 3.2.2. All the computations involving river flow velocity was based on the given 4 m/s in the project assignment brief. 3.2.3. River cross section shape and base width was also based on the given data from the project brief. 3.2.4. Modified rainfall and river height data were given as bases for the computations. 3.2.5. Data is too old (almost 11 years ago). Actual conditions may not anymore approximate current state of the hydrogeological parameters considered in the computations. 3.3. Diagram...
9 Pages(2250 words)Report

Organizational Consultant for We Make Widgets, Inc

Work-life balance is variously interpreted by different people. To some, work-life balance is doing a job, where work is a means to support life, while to others it means to be in employment where stress is kept in manageable limits. Broadly, it means to arrive at a ‘fit’ or have the right combination of professional requirements and other aspects of life including parenting, socializing, exercising and indulging in activities that promote mental and spiritual growth.

The right workplace balance depends upon individual interests, work demands and physical stamina (Moore-Thorpe, 2007). Nevertheless, work-life balance is a mainstream issue, which is a result of changing demographics and social trends (Bevan ci...
6 Pages(1500 words)Report

Approach to Education: Comparison of Philosophies of A S Neill & Paul Hirst

He believed that to impose anything by authority is wrong. The child should not do anything until he comes to an opinion – his own opinion- that it should be done. He states clearly his commitment to freedom of a child: ‘we set out to make a school in which we should allow children to be themselves. In order to do this, we had to renounce all discipline, all directions, all suggestions, all moral training, and all religious instruction. The child should never be forced to learn, Attendance at lessons should be voluntary whatever the age of the child. Only learning that is voluntarily undertaken has any value, and children will know themselves when they are ready to learn. (Summerhill , p.37)

Children will on...
9 Pages(2250 words)Report

Various HR Strategies to Encourage Knowledge Share

I want to provide you with strategies and measures that were discussed in the conference to help make Human Resources management an easier one for our organization. I hope the strategies included in this report will be effective if it is followed correctly.

This report is a piece of research work on knowledge management and its importance in the modern changing business environment and it is prepared based on current academic literature.

Retaining old employees in the organization as a technique for knowledge management has been a matter of debate among Human Resource experts and it was practiced by many organizations worldwide. A number of organizations worldwide find it effective that retaining organization...
20 Pages(5000 words)Report

Critical Review of General Electric

.... This was an unprecedented step made as an insurance bet against the probability that credit markets will dry up suddenly if there is another unexpected financial hiccup. However, this is a bit symptomatic of what ails G.E. today in that it has no clear-cut or strongly-worded strategy except a few statements about investing in growth areas like new products for the green movement. It has not crystallized what it wants to do about its organizational structure or the way it pursues business opportunities. What G.E. needs are new ways of looking at things besides acquiring new businesses and selling losing ones. It needs a paradigm shift. There is a certain disconnect between what GE is doing now (damage control) and the publicly-stated...
12 Pages(3000 words)Report
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Finance in higher Education(State Report:Illinois State ) for FREE!

Contact Us