HB-1319, sponsored by Senator Lambert in the Senate, would change the way Colorado finances higher education. Under this bill, most higher education money will now follow students through Colorado Opportunity Fund stipends. It will also implement some performance-based funding such as incentives for higher graduation rates.
This system modifies the old block-grant system, where most of the funding for the higher education system was allocated directly to the governing boards of each college, which bypasses considerations like enrollment growth and failed to reward good performance.
“High performing schools deserve a higher share of financial funding from the state,” said Senator Lambert. “While Colorado’s students have entered the 21st Century of technology and learning, our funding system lacked transparency and rewarded institutional politics over students. With the financial reforms established by HB-1319, money will more closely follow the student instead of being indiscriminately thrown at institutions without regard for their performance. We have supported this reform for many years, and think this is a great step forward for Colorado students.”