Welcome to Financing Futures

Exploring the past, present, and future of postsecondary finance, and spotlighting the states leading the way toward lasting change.

What to Expect from Financing Futures

We are excited to unveil Financing Futures, an animated eight-part video series that explores how state postsecondary funding has evolved over the past 15+ years. The series highlights how leading states have advanced more equitable and accountable policies—and what funding systems must do next to meet the needs of today’s learners and state goals.

→ Start here: Financing Futures 101: A Primer on How States Fund Higher Education.

Learn about how postsecondary funding typically works, why state choices matter, and what to watch for in the rest of this series, brought to you by HCM Strategists and EdTrust.

The Financing Futures Blog

Financing Futures Blog
Part 2: Reimagining Higher Education Funding in a Post-Pandemic Era
Part 2: Reimagining Higher Education Funding in a Post-Pandemic Era

The final four episodes in Financing Futures build on the policy shifts and lessons of the post-2020 era, exploring how states are responding to today’s challenges while preparing for the future. Spotlight states include New Jersey, Illinois and Texas, with a look at where the future of state postsecondary funding must go next.

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Part 1: Welcome to Financing Futures: 2008-2019
Part 1: Welcome to Financing Futures: 2008-2019

Welcome to Financing Futures: The First Four Episodes

Watch the first four episodes in the series, covering the years 2008-2019—a period shaped by the Great Recession and its lasting impact on higher education funding. Spotlight states include Tennessee, Ohio, Oregon and California.

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Financing Futures: Why Understanding Postsecondary Finance Matters More Than Ever
Financing Futures: Why Understanding Postsecondary Finance Matters More Than Ever

We are excited to unveil Financing Futures, an animated video series that explores how state postsecondary funding has evolved over the past 15+ years.

Read more →

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The Financing Futures Video Library

Episode 1 | 2008-2010: Russ Deaton, Executive Vice Chancellor for Policy & Strategy at the Tennessee Board of Regents

The “godfather” of outcomes-based funding explains how Tennessee moved beyond early experiments to fully implement one of the nation’s first comprehensive OBF models in 2010, tying state funding directly to student success as part of a broader reform effort.

Episode 2 | 2010-2015: Laura Rittner, Vice President of Operations & Student Success, Ohio Association of Community Colleges (OACC)

In 2013, Ohio introduced outcomes-based funding—but policy was just the start. Laura Rittner shares how the Ohio Association of Community Colleges helped institutions turn policy into practice and drive meaningful change, proving that implementation is what makes reform stick.

Episode 3 | 2015: Ben Cannon, Executive Director, Oregon Higher Education Coordinating Commission

What if funding truly followed outcomes? In 2015, Oregon took outcomes-based funding further—rewarding not just completion, but who graduates and in what fields—revamping its university funding model to better align dollars with student success.

Episode 5 | 2020: Brian Bridges, Secretary of Higher Education for New Jersey (2020-2025)

Amid the disruptions of the COVID-19 pandemic, former Secretary of Higher Education Brian Bridges led the development of a new funding formula for New Jersey’s public universities aimed at closing gaps in student access and success.

Episode 7 | 2023: Ray Martinez, President & CEO of Texas Association of Community Colleges (TACC)

With the passage of HB 8, Texas advanced funding reforms that paired adequacy with outcomes-based measures and a growing emphasis on value. Ray Martinez discusses how the state is aligning funding with student success, workforce needs, and credentials that deliver strong returns for learners.

Episode 4 | 2018-2019: Eloy Oakley, President and CEO of College Futures Foundation

California raised the bar on student-centered funding by prioritizing equity and outcomes for underserved learners. Eloy Oakley explains how the state’s 2018 funding formula reshaped incentives and redefined student success, especially across its vast community college system

Episode 6 | 2021: Robin Steans, President of Advance Illinois

In 2021, Illinois launched an ambitious effort to create the nation’s first adequacy-based funding system for public universities. Robin Steans explains how this new approach aims to build a more adequate, equitable, and stable higher education funding model for the state.

Episode 8 | The Road Ahead: Michelle Asha Cooper, Lumina Foundation

As higher education continues to evolve, states are rethinking how they define and fund value in postsecondary education. Michelle Asha Cooper reflects on the progress states have made and the work ahead to build funding systems that promote affordability, opportunity, and meaningful outcomes for all learners.