Some states are moving toward tying higher-education funding to performance, and a group of 18 college and university presidents now has released a report on how best to gauge performance. The report from the Voluntary Institutional Metrics Project uses five metrics to assess performance, including student loan repayment and default rates, student progress, per-degree costs, employment outcomes for graduates and learning outcomes. "The reality is, performance funding is here, and it's not going away," said Ed Klonoski, president of Charter Oak State College, which participated in the project.

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