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Regents Approve New Budget Plan
IOWA CITY, IA (CBS 2/FOX 28) -- The Board of Regents today approved a controversial performance-based funding plan for Iowa's three public universities.
The board voted 8 to 1 to adopt an amended version of that plan.
Funding will tie 60% of state-allocated education funds to resident enrollment.
That means the more in-state students a school has, the more funding it will get.
The change will make Iowa State University the top funded University in Iowa.
A new amendment will take the higher cost of educating graduate, professional and doctoral students into account.
That should help the University of Iowa which is set to lose the most money because of its out-of state enrollment numbers.