Last year was a banner year for higher education in Texas.
Every time we turned around there was an exciting new announcement to make higher education more accessible, affordable, and achievable, positively impacting the goals in the state’s strategic plan for higher education, Building a Talent Strong Texas.
The work of the agency and our institutional partners contributed to a historic 88th Legislative Session. The Texas Legislature demonstrated its commitment to higher education with a $5 billion investment.
The passage of new legislation and launch of new programs made an immediate impact on how institutions are funded, student financial aid, and helped support a one-stop advising tool for all Texans. Texas continues to stay out in front in job creation and economic growth.
House Bill 8 (HB 8) codified the work of the Texas Commission on Community College Finance, moving our 50 community college systems to an outcomes-based funding model that rewards colleges for awarding degrees, certificates, and other credentials of value. The Coordinating Board played a key role with our community college partners in developing the rules and policies that made it possible to implement the changes in time for fiscal year 2024.
HB 8 also created the Financial Aid for Swift Transfer (FAST) scholarship program for low-income dual credit students, opening the door for thousands of Texas high school students to earn free college credit before high school graduation.
Funding education in Texas is crucial, but helping Texans navigate their way to the right career for them is equally important. My Texas Future is designed to move career changers and adult learners from thinking about a new opportunity to beginning a new career.
My Texas Future makes it easy for busy, working Texans to connect with programs that will help further their career or return to the workforce or a degree path. them get a better job and improve their lives. My Texas Future personalizes the planning experience while rooting Texans’ postsecondary decisions in practical information like real-world earnings and regional job demand.
The way we present and share education data also got a big upgrade and new look with the launch of our new public data website, ensuring that everyone involved in higher education in Texas is provided with useful, actionable data at their fingertips.
Paying for a higher education can be tricky, but with the introduction in 2023 of the Future Occupations & Reskilling Workforce Advancement to Reach Demand (FORWARD) Loan Program, Texans have a new way to complete their credential in a high-demand occupation with a low-interest loan designed to meet the goal of helping students achieve a credential of value while also meeting the workforce demands of Texas.
Research across our institutions got a big boost as well, when the legislature established the Texas University Fund, infusing millions of new research dollars into additional universities across the state, positioning Texas to become a national leader in research and development.
All these achievements were celebrated in December at Higher EDge 2023, our new-look annual leadership conference packed with exciting programming, the first ever EDge Expo, and insightful connections between higher education, business, and philanthropy that drew more than 500 attendees.
There was much for us to celebrate in 2023, and that success positioned the Coordinating Board for a pivotal 2024 as we carry that momentum forward.
Across Texas, you can already see the impact of our work to support our institutions, expand opportunities, and provide new resources to benefit students and their families, institutions, and communities.