ALBANY, 08/09/11 – State Senator James L. Seward (R/C/I – Oneonta) announced today that legislation he co-sponsored establishing a rational tuition policy for State University of New York (SUNY) schools has been signed into law.
“Our SUNY schools are one of our state’s greatest assets; they provide our future innovators and leaders with a quality, affordable education while partnering with communities statewide and driving our local economies,” said Senator Seward. “Establishing a rational tuition policy will aid students and parents as they plan for the cost of a college education.”
The legislation (S.5855/A.8519) enacts the “NY-SUNY 2020 Challenge Grant Program Act” which:
• Authorizes SUNY trustees to increase tuition by up to $300 per year for five years;
• Allows for out of state undergraduate tuition increases of up to 10 percent;
• Provides a tuition credit in an amount equal to a percentage of a student’s TAP award multiplied by any increase in tuition over $5,000.
Along with providing predictability, the legislation ensures that additional tuition revenue is invested in campus improvements and program development. SUNY 2020 also requires the state to maintain financial support to the university system from year to year.
“Ensuring that SUNY campuses have the necessary resources to grow and continue to offer unique programs that attract the best and brightest students is an essential component of SUNY 2020.
“SUNY is also a crucial component of our local economies – with an estimated $20 billion impact statewide. This legislation guarantees additional partnerships that will allow these economic engines to grow and thrive,” Seward concluded.
The State University of New York is the largest comprehensive university system in the United States, educating more than 467,000 students in more than 7,500 degree and certificate programs on 64 campuses with nearly 3 million alumni around the globe.
The new law takes effect immediately and will expire in five years.