The U.N.C. System Board of Governors has approved the final details of a performance-based funding model for its universities.
It will determine how much state funding the system requests for each of its universities, based in part on their ability to meet certain goals – like improving 4-year graduation rates and reducing student debt.
Every university will benefit from the "performance weighting" this year. But that may only buffer the funding losses some universities will face due to falling enrollment of in-state students.
U.N.C. Pembroke's Chancellor Robin Cummings said the new funding model comes amid a changing landscape in higher education.
“This is change that's coming at a time of great instability, inflation, all demographic changes, all the change that is upon us, that's impacting how we do our job every day," he said, "And now this is additional change, and that's ok.”
The U.N.C. System will use the new funding model to make its request to the General Assembly next year.