New Mexico is embarking on a comprehensive review of its funding for public colleges and universities to address potential inequities in the system. The Higher Education Sustainability Study will analyze the current funding formula and recommend changes to ensure fair distribution of resources among different types of institutions.
Gerald Hoehne, director of the Capital Outlay Division at the New Mexico Higher Education Department, highlighted the disparities in funding between community colleges and research institutions. Community colleges, which serve a higher percentage of low-income and minority students, receive significantly less funding per student compared to four-year institutions. This study aims to identify and rectify such discrepancies.
The study is expected to be completed by mid-October, providing valuable insights for lawmakers ahead of the 2025 legislative session. With a record investment of $187 million in higher education in 2024, New Mexico is prioritizing the need for equitable funding across all levels of higher education.
The National Center for Higher Education Management Systems is conducting the study on behalf of the state, ensuring an independent and thorough analysis of the funding structure. By comparing New Mexico’s funding practices with those of other states, the study will offer recommendations for improving the allocation of resources to support all types of institutions effectively.
This initiative reflects a commitment to promoting equal opportunities for students across the higher education landscape in New Mexico. Lawmakers and stakeholders are eagerly awaiting the study results to inform policy decisions and create a more equitable and sustainable funding system for public colleges and universities in the state.