Commission to Look Into Illinois’ Higher Education Financing System
State lawmakers have ordered a commission to look into Illinois' unsteady system of higher education funding -- that commission meets for the first time Tuesday.
One of the members of the panel is an economics professor emeritus at the University of Illinois. Walter McMahon says the commission will compare Illinois' higher ed funding procedure against other states and discuss the right balance between state appropriations, tuition and money for students financial aid.
McMahon says that leg of the funding system - financial aid -- is crucial because many students drop out for lack of money, which leads to lower graduation rates. He believes the Monetary Awards Program, or MAP, favors needy students who go to private colleges instead of public universities or community colleges...and McMahon says the maximum MAP award each year should not go up. "That would then funnel the money a little bit more to students who are most in need and going to places like Parkland (College in Champaign), where tuition is not as high," said McMahon.
The commission will give its recommendations for higher-ed budgeting in December to the Governor, the General Assembly and the Illinois Board of Higher Education.