{"id":1598,"date":"2012-01-05T19:35:51","date_gmt":"2012-01-05T19:35:51","guid":{"rendered":"http:\/\/www.swproperties.com\/new-mexico-news\/?p=1598"},"modified":"2012-01-05T19:35:51","modified_gmt":"2012-01-05T19:35:51","slug":"governor-susana-martinez-unveils-new-funding-formula-for-new-mexicos-colleges-and-universities","status":"publish","type":"post","link":"https:\/\/www.swproperties.com\/new-mexico-news\/living-in-new-mexico\/governor-susana-martinez-unveils-new-funding-formula-for-new-mexicos-colleges-and-universities\/","title":{"rendered":"Governor Susana Martinez Unveils New Funding Formula For New Mexico’s Colleges And Universities"},"content":{"rendered":"

\"NM<\/a><\/h3>\n

Institutions will be rewarded for graduating more students, as opposed to constructing buildings<\/h3>\n

SANTA FE \u2013 Governor Susana Martinez recently met with a large group of regents, governing board members and post-secondary institution presidents in Socorro to discuss the state\u2019s new higher education funding formula.<\/p>\n

The new formula will reward New Mexico\u2019s higher learning institutions based on outcome measures that reflect student achievement and preparedness for New Mexico\u2019s workforce, as opposed to basing the allocation of funding on measurements like the size (square footage) of each institution. In addition, while the current formula funds colleges and universities based on courses and degree programs started, the new formula would be based on courses and degree
\nprograms completed.<\/p>\n

\u201cThe central goal of New Mexico\u2019s higher education institutions should be to graduate the students New Mexico\u2019s economy will depend on for decades,\u201d said Governor Martinez. \u201cIn an increasingly competitive global economy, this formula will help us deliver the graduates we need for the jobs of tomorrow, and it serves to intently focus our attention on the achievement of our students.\u201d<\/p>\n

Under the formula, institutions would receive funding for graduating students in so called \u201cSTEHM\u201d (Science, Technology, Engineering, Health Care and Mathematics) fields. A recent study disclosed that New Mexico\u2019s economy will require nearly 50,000 employees with STEHM degrees by 2018 and nearly 95% of those jobs will require post-secondary education and training.<\/p>\n

\u201cFor the first time in the history of New Mexico, the younger generation is less educated than the generations before,\u201d said Higher Education Secretary Jose Garcia. \u201cThis new formula is our opportunity to make sure today\u2019s students are tomorrow\u2019s successful employees.\u201d For decades, the New Mexico higher education funding formula rewarded measure such as student enrollment and square footage. This created a system where New Mexico taxpayers paid over $53,000 per completed degree, compared to neighboring Arizona, which pays $39,000.<\/p>\n

Last year, in an event that was also held at New Mexico Tech, the Martinez administration announced that an agreement had been struck with the state\u2019s colleges and universities to impose a two-year moratorium on the construction of new buildings, in an effort to curb the proliferation of new construction that had been occurring, at least in part, due to the incentive for increasing square footage that was built into the state\u2019s current higher education funding formula.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Institutions will be rewarded for graduating more students, as opposed to constructing buildings SANTA FE \u2013 Governor Susana Martinez recently met with a large group of regents, governing board members and post-secondary institution presidents in Socorro to discuss the state\u2019s new higher education funding formula. The new formula will reward New Mexico\u2019s higher learning institutions … Continue reading “Governor Susana Martinez Unveils New Funding Formula For New Mexico’s Colleges And Universities”<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,18],"tags":[],"class_list":["post-1598","post","type-post","status-publish","format-standard","hentry","category-living-in-new-mexico","category-whats-news"],"yoast_head":"\nGovernor Susana Martinez Unveils New Funding Formula For New Mexico's Colleges And Universities - Southwest Properties, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.swproperties.com\/new-mexico-news\/living-in-new-mexico\/governor-susana-martinez-unveils-new-funding-formula-for-new-mexicos-colleges-and-universities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Governor Susana Martinez Unveils New Funding Formula For New Mexico's Colleges And Universities - Southwest Properties, Inc.\" \/>\n<meta property=\"og:description\" content=\"Institutions will be rewarded for graduating more students, as opposed to constructing buildings SANTA FE \u2013 Governor Susana Martinez recently met with a large group of regents, governing board members and post-secondary institution presidents in Socorro to discuss the state\u2019s new higher education funding formula. 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