INDIANAPOLIS - Indiana's public universities are working to improve graduation rates and increase science and technology degrees in hopes of receiving more state funding.
The moves are a response to a performance-based funding formula developed by the Indiana Commission for Higher Education.
The formula was introduced in 2003 but has gained importance as state aid based on enrollment shrinks. The Indianapolis Business Journal reports the goal of the funding formula is to boost college graduation rates.
The budget lawmakers are writing this year calls for raising the performance-based calculation from 5 percent of each school's state funding to 6 percent in 2014 and 7 percent in 2015.
Ball State University President Jo Ann Gora says her school hopes to offer more science and engineering degrees to increase its state aid.