Posted: Feb 4, 2013 9:04 AM by Associated Press
JEFFERSON CITY, Mo. (AP) - A Missouri legislative committee is creating a new funding model for the state's public colleges and universities.
The Joint Committee on Education plans to release a detailed draft Monday at the state Capitol. The panel will accept public comment on the proposal until Feb. 11.
A recently approved state law requires development of a higher education funding formula similar to the one used for public school districts. Missouri now bases funding for colleges and universities largely on how much they've received in past years and how much money is available.
The joint committee has until the end of the year to develop a funding model.