The previous few months were a busy and sometimes contentious time for the Texas Legislature. The Senate Finance and House Appropriation Committees deliberated many items regarding state funding for higher education. Below are some highlights from the proposed House and Senate budgets that could have had a large impact on Texas A&M.
Texas A&M boasts the lowest administrative cost ratio among public higher education institutions in Texas at a mere 3.6% - compared to the state average of 9.8%. In addition, Texas A&M leads the state in the areas that are key to the success of its students - the lowest percentage of students with debt, the fastest time to degree, and, in a competitive job market, its graduates earn 54% more than the national average.
Texas A&M not only has the largest student enrollment in Texas, but it has added over 4,000 students over the last biennium while maintaining the highest student performance in the state (see more here).
Simply put, Texas A&M is outperforming the competition for less, and is proud to serve the largest student body in the state by providing an accessible, affordable, and exceptional education.
Higher education formula funding, which is based on the number of enrolled student hours and weighted by program, directly supports the university's core academic mission—teaching. This is overwhelmingly the largest source of state funding for Texas A&M and the most consistent. Stable, predictable state funding promotes efficiency and better planning for the university, Texas A&M students, and their families.
In the Senate budget proposal (which called for a redistribution of formula dollars), Texas A&M would have received more than $30 million less to educate its students when compared to current funding levels. This proposed change would have left Texas A&M with one of the lowest rates of per-student funding in the state of Texas. Fortunately, the final budget proposal was changed to reflect that of the House, using the established formula funding methodology.
The final budget proposal will help to ensure the continued success of Texas A&M students and the university as a whole: Texas A&M will receive a 2.6% increase (compared to the current state formula).
Despite the many financial challenges faced by our state legislators, Texas A&M received adequate funding and will continue to provide opportunities for current and future Texas A&M students. Aggie Advocates played a key role in ensuring that Texas A&M has the state-provided resources necessary to provide a high-quality education at affordable prices.
Thanks for your continued support!