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NM Higher Education Dept. to review state’s funding formula

NEW MEXICO (KRQE) – The New Mexico Higher Education Department says it’s going to evaluate how it funds colleges and universities. The department announced that a group will meet later this month to examine the department’s funding formula.

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The formula uses several factors to determine how much annual funding each school gets. Factors include the number of degrees awarded as well as serving at-risk populations. The goal is to find out if the state’s resources are supporting current workforce needs.