New Jersey Senate Bill S4295

New Jersey 2024-2025 Regular Session

• Introduced: 3/24/25
• Refer: 3/24/25

Caption

Makes supplemental appropriation of $144.2 million to provide additional Outcomes-Based Allocation funding to four-year public institutions of higher education.

Impact

The bill supplements the existing allocation provided in the FY 2025 Appropriations Act, which already appropriated a total of $220.5 million under the same program. By allocating these additional funds, S4295 ensures that institutions like Rutgers University, New Jersey Institute of Technology, and others can continue to provide educational services and enhance their institutional support. This financial support is crucial for maintaining educational quality and access, especially for students from diverse backgrounds and lower-income families.

Summary

Bill S4295 proposes a supplemental appropriation of approximately $144.2 million aimed at enhancing the Outcomes-Based Allocation funding for New Jersey's public four-year institutions of higher education. This funding is designed to support various metrics, including the number of degrees awarded, underrepresented minority degrees, and low-income student degrees, with the goal of distributing resources based on performance and need. This supplemental funding is intended to help meet the estimated future requirements of these institutions for educational and developmental purposes.

Contention

While the bill is generally viewed positively in the context of supporting higher education funding, there may be debates surrounding the sufficiency of these funds and their distribution among various institutions. Questions could arise regarding equity among different universities, particularly when some institutions are perceived as being favored over others due to their size or student demographics. The allocation criteria based on performance metrics may also lead to discussions about how effectively these measures reflect the true needs of students and institutions.