FAMU earned its highest-ever score of 81 out of 100 on Florida’s performance-based funding metric for the 2024-25 academic year. The result, announced at last week's Board of Governors (BOG) meeting, places FAMU sixth among the state’s 12 public universities, with two institutions tying for third place.
The metric evaluates universities on factors like graduate wages, employment outcomes, retention, graduation rates, and degrees awarded in high-demand fields. FAMU secured perfect scores in six categories: median graduate wages, net tuition per credit hour, four-year graduation rates for full-time students, strategic emphasis degrees, Pell Grant student access, and BOT Choice (Bachelor of Science degrees awarded to AA graduates). Notably, the university’s four-year graduation rate jumped to 41%, a 6% increase over the 2023-24 academic year.
“This reflects our unwavering commitment to student success and workforce alignment,” said interim FAMU President Timothy Beard. “We’re preparing graduates to thrive in critical sectors while ensuring affordability and access.”
FAMU’s score marks steady progress, rising from 72 in 2024 and 78 in 2023. Meanwhile, Florida Gulf Coast University ranked last with a score of 67, up from 63 the prior year.
Funding delays and cost concerns
The BOG delayed finalizing performance-based funding allocations due to the legislature’s extended session. A $350 million pool—up from $300 million last year—will be distributed later this summer. In 2024, shares ranged from the University of Florida’s $71 million to New College of Florida’s $5.1 million.
New College also drew attention for its soaring cost-to-graduate metrics. According to BOG projections, the state will spend $555,016 per degree awarded at New College in 2025-26—over 10 times the system-wide average of $54,391. Under President Richard Corcoran’s leadership since 2023, the cost per degree there has surged by $165,513, compared to an average $11,656 system-wide increase. Florida Polytechnic followed distantly at $154,149 per degree, while the University of Central Florida led efficiency at $31,764.
As FAMU celebrates its progress, stakeholders eagerly await final funding decisions to see what the financial benefit to the university is this year. “Every dollar directed to FAMU amplifies our impact,” Beard emphasized.