New York State Executive Chamber | Governor Eliot Spitzer

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ADVOCATES BACK ENDOWMENT FOR NEW YORK’S HIGHER EDUCATION SYSTEM
Support Educating New York to Compete in the Innovation Economy

Education advocates today stood with Governor Eliot Spitzer to endorse his plan to make New York’s higher education system a world class system that will support a growing innovation economy. The United University Professions (UUP), New York State United Teachers (NYSUT), and the New York Public Interest Research Group (NYPIRG) endorsed the Governor's plan at an event attended by representatives from labor and business, as well as university students, administrators and faculty from the State University of New York (SUNY) and City University of New York (CUNY).

Representatives from the various organizations present said they will engage New Yorkers across the state to discuss the importance of creating a $4 billion endowment that will serve as a foundation for future improvements to New York’s public higher education system.

The $4 billion higher education endowment, announced in the Governor’s State of the State Address earlier this year, is expected to initially yield $220 million per year in a new funding stream for New York’s public colleges and universities. Within 10 years, the endowment is expected to grow to $6.3 billion and generate over $330 million per year.

“In a world where innovation is driving the economy, it is critical that we prepare every New Yorker to compete," said Governor Spitzer. "This is a unique moment in which we must acknowledge that our future economic growth depends on the education we deliver today. For this reason we must take a historic step that will pay dividends for years to come. With our partners in business, labor and higher education, we are committed to building a public higher education system that will be a powerful engine for economic growth and opportunity all across New York State.”

With his announcement today, the Governor unveiled plans to visit SUNY and CUNY schools across the state to stress the need for the state to commit to funding New York’s higher education system.

Phillip H. Smith, President of UUP, the union that represents academic and professional faculty at SUNY, said: “We applaud Governor Spitzer for making public higher education a priority and we strongly support the concept of creating dedicated revenues for public higher education. We need both a long-term and short-term strategy to preserve and enhance the quality of public education and access to our state-operated campuses. The sooner we replace the SUNY faculty lost during the past 15 years the better it will be for our students, their families and the economic stability of the state as a whole.”

John Clark, SUNY Interim Chancellor, said: “As we strive to strike the balance of providing a top-quality higher education at an affordable cost, it is imperative for the State University of New York to have a dedicated funding stream for strategic investments to enhance our academic quality; the Governor’s proposed endowment would make this possible.”

Matthew Goldstein, CUNY Chancellor, said: "Through the Governor’s exemplary leadership, an endowment offers a historic opportunity to strengthen the CUNY and SUNY systems, and, by extension, the State of New York, through serious investment in faculty, research, student support, and economic development. New Yorkers deserve nothing less."

Marcia V. Keizs, York College President, said: “I am pleased that many of the Higher Education Commission’s recommendations were incorporated into Governor Spitzer’s State of the State message and that we are now moving in the direction of implementation. Governor Spitzer’s vision for public higher education in New York will have a monumental impact on our state and nation. His proposal for a $4 billion Endowment for SUNY and CUNY will chart the course for higher education in our state and make us competitive with the best graduates anywhere.”

Cheryl Lynch, NYPIRG Chairman and student at SUNY Stony Brook, said: “NYPIRG has been fighting for a greater investment in public higher education for decades. Today marks a new and important step in that work — NYPIRG's campaign to help secure a long-term funding stream for SUNY and CUNY. The creation of a large-scale endowment can give students and families what our public colleges and universities need: the kind of real, long-term investment that can make a substantial difference. NYPIRG will join those who make policy and those who shape policy — among them the Governor, faculty, students and community groups across the state — in this effort to secure our future and make the vision of a higher education endowment a reality.”

Richard C. Iannuzzi, NYSUT President, said: “New York State United Teachers supports a dedicated, reliable funding stream for higher education. An endowment dedicated to SUNY and CUNY is one creative tool to help us establish these fine public universities as world-class systems of higher education.”

Barbara Bowen, President of the Professional Staff Congress, said: “The PSC commends Governor Spitzer for proposing an endowment to provide a new level of financial support for public higher education. The people of New York should have a premier public higher education system, and we welcome this initiative, along with other sources of public funds, to address the historic underfunding of CUNY and SUNY.”

Donald Boyce, SUNY Albany student and Student Trustee on the SUNY Board, said: “This endowment represents precisely the type of long-term thinking we students want our leaders to be engaging in. We understand that this is a tough budget year, but the Governor’s commitment to the endowment indicates that he sees beyond individual budgets and prioritizes higher education.”