State Comptroller, SUNY Chancellor Launch Effort to Better Inform New Yorkers of Options in Paying for College

Albany – SUNY Chancellor Nancy L. Zimpher and the SUNY Student Assembly today commended State Comptroller Thomas P. DiNapoli for outlining the many financing options available for college-bound New Yorkers. In a recently published newsletter, Comptroller DiNapoli offers ways for students and families to support their higher education and provides guidance through the process.

“A college education is one of the most important and expensive investments a person can make,” said Comptroller DiNapoli. “It’s best to start saving as early as possible. Whether you’re saving for a newborn or for a teenager who will go to college within a year or two, it’s never too early or too late. Every dollar saved will be one less dollar you need to borrow.”

“Nearly half a million students are currently enrolled at SUNY campuses across New York,” said Chancellor Zimpher. “These are some of the best two- and four- year colleges in the country, and they are also among the most affordable. However, we know that paying for college in these difficult economic times is an enormous challenge, and we are thankful to Comptroller DiNapoli for offering students and parents guidance on how to best plan for their college costs.”

"We are grateful for Comptroller DiNapoli's efforts to educate New York's students and their families about the many options available in the often overbearing reality of paying for a college education,” said Student Assembly President Kaitlyn Beachner. “Every New Yorker should have the ability to further their education regardless of their financial situation. We look forward to working with Chancellor Zimpher and Comptroller DiNapoli in identifying even more ways in which a college education can remain affordable and accessible at the State University."

New York State ranks third in the country for college enrollment, with more than 1.1 million students. Despite a modest rise in tuition at SUNY’s state-operated campuses this semester, SUNY’s in-state tuition ($5,270) remains the most affordable in the northeast and among the least expensive in the nation.

In his newsletter, Your Money New York (Special College Edition), Comptroller DiNapoli outlines the many options available to New Yorkers to help pay for college, including special savings accounts, financial aid, and scholarships. The Your Money New York website includes a special section for college-bound students and provides information on:

• College Planning Resources;
• College Savings Accounts;
• Financial Aid, College Loans and Scholarships;
• Financial Tips for College Students;
• Textbook Costs; and
• Student Loan Assistance Programs.

SUNY is also doing its part to ensure that all New Yorkers have access to a top-quality college education at the system’s 64 campuses, which are embedded in every community across the state. With the implementation of a rational tuition policy this fall, students and families are able to plan for the entire cost of a SUNY education. At the same time, the policy gives the system a sustainable revenue stream that will be dedicated to ensuring that SUNY students can successfully complete their degrees in a timely fashion.

The plan, a major component of Governor Andrew Cuomo’s NYSUNY 2020 legislation enacted over the summer, protects access and affordability and ensures that funds from modest tuition increases are directly invested back into education, through faculty hiring and program and curricula enhancements with the aim of improving college completion rates.

State Comptroller’s Your Money New York Website

Your Money New York (www.yourmoneynewyork.com) is a website introduced by Comptroller DiNapoli in 2009 to give New Yorkers access to information and useful resources on money-related matters. The easy-to-use, multilingual site covers credit cards and consumer debt, home mortgages, savings and investments, insurance, and protection against identity theft and financial scams. It also provides access to interactive calculators and DiNapoli’s Open Book New York website, which brings detailed information on State and local government finances to taxpayers through a centralized, user-friendly platform.

About the State University of New York

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. To learn more about how SUNY creates opportunity, visit www.suny.edu.