New Mexico colleges get a D: It costs almost twice the national median to complete a 4-year program
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From the Albuquerque Journal today (June 22):
New Mexico’s post-secondary institutions won’t be making the dean’s list.
We’re talking Ds and Fs here, according to a report released this week by the nonprofit, nonpartisan Institute for a Competitive Workforce, a U.S. Chamber of Commerce affiliate.The report grades the country’s two-year and four-year public institutions, naming New Mexico, where there are 19 and six respectively, among the worst.
The U.S. Chamber of Commerce in a news release called the findings “sobering” and is calling on lawmakers, educators and the business community to reform higher ed in the United States.
The state’s colleges combined to get an F on transparency and, perhaps most disturbing for taxpayers, a D for efficiency and cost-effectiveness. From the report:
New Mexico receives low grades in this area, with four- year state and local funding per completion ($82,653) almost double the national median of $41,198, ranking in the bottom five states. For two-year institutions, both cost per completion ($67,621) and state and local funding per completion ($61,433) rank in the bottom third of all states.
The report comes as there has been more calls to make higher education in New Mexico more effective. Last week, an audit was released slamming the Higher Education Department for lapses going back years. Click here to read that story from the New Mexico Watchdog.
As for the national report from the Institute for a Competitive Workforce, things aren’t so great nationally, either.
Although the report singled out Florida, Texas and Minnesota for progress, it says 33 states spend more than $50,000 to produce a credential at a two-year college, cites completion rates in four-year schools hovering at just 50 percent and criticizes states that have “not developed the means to measure the quality of their programs” (just 22 states have the ability to track the success of graduates once they enter the labor force and make those data public).
You can read the entire report by clicking here.