Governor signs NYSUNY 2020 legislationTweet
Gov. Andrew Cuomo signed legislation Aug. 9 to implement the NYSUNY 2020 Challenge Grant Program and institute a rational tuition plan for SUNY and CUNY. The new law will enhance academic achievement and drive economic development across the state.
The joint challenge grant program between the governor and SUNY provides $140 million in new capital funding for the four SUNY University Centers – $35 million each for Binghamton, Albany, Buffalo and Stony Brook. Each university will receive the funding based upon individual, long-term economic development plans they have developed and are presenting to the governor and SUNY Chancellor Nancy L. Zimpher.
“New York State’s universities are the jewel of our state’s educational system, and with this bill the SUNY system will now be perfectly positioned to become the engine of economic growth across the state,” Cuomo said. “The $140 million in new capital funding will build these schools into America’s leading institutions of research and innovation, while also creating jobs for New Yorkers and improving our state’s economic competitiveness. Under the new tuition plan, students and parents will be able to reasonably plan for college expenses instead of being subject to the dramatic tuition increases and uncertainty of the past.”
“We thank Gov. Cuomo for his commitment to the NYSUNY2020 plan and his support for this landmark legislation,” said Binghamton University President C. Peter Magrath. “Rational tuition reform is crucial to the expansion of our educational mission. By delivering substantial resources to the campus, we will be able to improve access to Binghamton’s high-quality education for thousands of New Yorkers, and help position the University and our partners to reinvigorate the state’s economy through innovation and job creation.”
Zimpher said the governor “has instituted fair, rational and predictable tuition reform in New York State, providing peace of mind for SUNY students and their families,” adding that “for the first time in state history, the university centers of SUNY have an opportunity to seize multiple-year funding to do what they do best − act as catalysts for a stronger, more competitive New York. We applaud the governor’s economic vision and assure all New Yorkers that SUNY is equal to the task.”
The new law enacts a rational tuition plan that allows each SUNY and CUNY campus to raise tuition by $300 per year for five years, replacing an era of sudden tuition increases with a system that is predictable and empowers students and parents to plan for college expenses.
The law will also establish tuition credits to apply against the tuition charged to a student based on the level of a student’s tuition assistance program (TAP) award.
University Centers at Binghamton, Albany, Buffalo and Stony Brook will additionally be able to implement a rational “plus” tuition plan by including an additional three percent increase (based upon a $75 fee and an up to 10 percent tuition increase for out-of-state students) annually for five years, conditioned on the approval of their NYSUNY 2020 applications by the governor and SUNY chancellor.