ERIC Number: ED158675
Record Type: RIE
Publication Date: 1976-Dec
Reference Count: 0
Maryland State Board for Higher Education. Report of the Finance Committee.
Maryland State Board for Higher Education, Annapolis.
An examination of financing in higher education in Maryland concerned three major areas: equity in state financing among public institutions, state financing of private colleges and universities, and state capitalized loan projects. An assessment of the financial needs of public higher education over the next five years indicated that almost 70 percent more money will be needed by fiscal year (FY) 1978 in order to operate at approximately the same level as during FY 1977. Two essential questions were considered: whether the funds to cover these increased costs should originate with the state or the student and how the state's contribution to public higher education should be distributed among the public institutions to meet their needs and maintain equity of funding. The current and projected financial condition of 15 private schools was investigated, and the direct grant program was found to be the preferable method of financing. It was recommended that general fund support be increased to private institutions. A process for reviewing capital projects for private schools and a contract system for reserving spaces for students at private colleqes were recommended. A $5 million state capitilized student loan program was recommended that would serve as a "lender of last resort" to students who have tried unsuccessfully to obtain loans through commercial lenders. Included in the appendices is the final report of the Task Force to Study Community College Funding. (SW)
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Maryland State Board for Higher Education, Annapolis.