The State Commission on Higher Education shall maintain a statewide planning system to address strategic issues in public and private higher education. The system must focus upon the following goals to:

(1) identify future directions for higher education in South Carolina and recommend appropriate methods for meeting the resultant challenges;

(2) review major goals identified by the public and private institutions of higher learning in this State and ascertain their relationship to higher education in South Carolina;

(3) assure the maintenance and continued development of the quality of higher education in South Carolina;

(4) assure the maintenance and continued provision of access to and equality of educational opportunity in higher education in South Carolina;

(5) measure and monitor an institution’s standard of achievement in regard to the performance indicators for quality academic success as contained in § 59-103-30.