The Complete College Tennessee Act of 2010 (CCTA) changed the funding formula from enrollment-based to outcomes-based in order to increase the number of college graduates in Tennessee and as a result altered the landscape of public higher education in the state. The purpose of this qualitative study was to ascertain the impact of the CCTA on higher education in Tennessee by assessing perceptions of change among administrators and students at two Tennessee Board of Regents' (TBR) institutions. Through administrator interviews, student focus groups and student questionnaires, the researchers explored the tangible and perceptual impact of this legislation at an early juncture in its implementation. Evidence collected from a community college and a four-year university suggested that there has been intentional mobilization of programs and services to meet the goal of the CCTA, which was student completion. Results also reflected that institutional responses have led to greater communication among TBR institutions and administrators and faculty at these institutions. This system-wide mobilization has generated uniformity across the system, but impelled each institution to maintain their individuality within the larger system. Finally, results indicated that faculty responsibilities had increased because of their roles as executors of the CCTA on a daily basis. As such, they have played the most significant student support roles in communicating completion messaging and providing academic direction and emotional support. Further, though students had no direct knowledge of the CCTA, they recognized that faculty were increasingly engaged in their academic goals and had a significant influence upon their persistence and completion. Ultimately, the evidence, or lack thereof, suggested that more time is needed to effectively gauge the impact of the CCTA. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]