Update: Tennessee's Higher Education Outcomes-Based Funding Formula
Authors: Robert Quittmeyer and Matthew Veach
OREA has produced an update on the higher education outcomes-based funding formula. The legislative brief describes the formula’s history and components, details the timeline of the most recent changes made to the formula and provides an overview of how those changes are proposed, reviewed and approved.
The COVID-19 pandemic delayed the latest iteration’s implementation, which began affecting institutions’ budgets this fiscal year, FY 2023-24.