SUNY Announces $2.25 Million in New Funding to SUNY New Paltz

May 2, 2024

Historic Statewide Increase in Annual Funding of $277 Million Over Two Years Thanks to Governor Hochul and the Legislature

$102 Million of $114 Million from FY 2025 Enacted Budget to Support Faculty and Staff Across All State-Operated Campuses

Funding Will Also Increase Paid Student Internship Experiences, Expand Research Efforts, and Reduce Fees for Graduate Student Workers

Albany, NY — The State University of New York Board of Trustees today announced the additional allocation of $114 million in Direct State Tax Support across the State-operated SUNY campuses from the FY 2025 Enacted New York State budget.

SUNY has allocated:

  • $2.25 million allocated to SUNY New Paltz – a 13.3% increase over the last year

The funding marks a historic investment under Governor Kathy Hochul's leadership, with the combined 2023-24 and 2024-25 budgets representing the largest two-year infusion in at least five decades with an increase of $277 million in Direct State Tax Support allocated to SUNY.

Last year, the $163 million increase in the 2023-24 Budget made it possible for SUNY to:

  • Provide double-digit percentage increases in Direct State Tax Support at every State-operated campus – including support for faculty hiring and student services across the System
  • Invest more than $40 million in mental health services, support for students with disabilities, student internship experiences, expanding research, and addressing food insecurity
  • Reduce mandatory fees for graduate student workers

Today's Board resolution maintains last year's investments and the progress they have generated and, using the $114 million in increased funding:

  • Provides $102 million to support SUNY faculty and staff, contributing support for salary increases reflected in recent collective bargaining agreements
  • Provides $4.5 million for additional student internship experiences to improve student success and the student experience, bringing the two-year total to more than $14 million
  • Allocates $4 million to support faculty and student researchers
  • Continues to reduce mandatory fees for graduate student workers with an additional $3 million, bringing the two-year total to $6 million

"Today's announcement marks a historic investment in our nation-leading statewide public higher education system and will inject critical funding to support our students and faculty," said SUNY Chancellor John B. King, Jr. "Governor Hochul and the State Legislature's commitment to public higher education is clear in this year's budget. As a result, SUNY has been able to allocate the significant resources our campuses deserve so that we can retain and attract stellar faculty, enroll the largest class of students in a decade, increase paid internships, and expand our research capabilities. There is a place at SUNY for every New Yorker, and this funding further positions SUNY as a leading academic institution that delivers on the promise of student success at an extraordinary value."

"This investment in SUNY underscores Governor Kathy Hochul's unwavering commitment to advancing educational excellence and public higher education," said SUNY Board of Trustees. "This historic investment in the students and faculty of each of our State-operated campuses reaffirms our dedication to nurture academic talent, propel research endeavors, foster student success and champion innovation by delivering transformative opportunities for generations to come."

Senate Majority Leader Andrea Stewart-Cousins, said, "Our State funded comprehensive network of SUNY educational institutions help ensure college remains affordable and accessible for all New Yorkers. New York prides itself on having not only one of merely the largest networks, but more importantly one of the most affordable ones. I'm proud that in this years enacted budget we secured an additional $114M in funding to support our campuses. We are committed to ensuring that current and prospective students have access to a wide array of affordable educational opportunities."

Assembly Speaker Carl Heastie, said, "As my colleagues and I continue to work towards providing a world-class education to all New Yorkers - investing in our state colleges and universities is essential. I'm proud that the Assembly Majority fought for this funding to ensure SUNY has the resources it needs to keep its programs competitive while lowering the barrier of access for any students looking toward a brighter future."

State Senator Toby Ann Stavisky, Chair of the Higher Education Committee, said, "My colleagues and I were proud to fight and deliver funding for SUNY in the budget last month. Today's vote to allocate funds will bring much needed resources to the hard-working faculty, expand student opportunity and invest in our student workers. I am delighted that there will not be an increase in tuition, and I will continue to advocate for public investment for our public institutions."

Assemblymember Patricia Fahy, Chair of the Higher Education Committee, said, "I was proud to help lead the fight for more operating aid for SUNY's campuses in this year's budget, and we were successful in building upon our progress from last year's historic increases. This critical aid will benefit students and faculty alike and continues to ensure SUNY's competitiveness on the national and global higher education stage. I will continue to fight for more funding for SUNY, especially when we know that funding is going to support well deserved contracts for the faculty and staff. Additionally, this continued historic level of investment in SUNY allows for more student success initiatives, opportunity programs, and student internship opportunities. We must continue investing in our public higher education system and usher in a new era for higher education in New York State."

State Senator Michelle Hinchey said, "Our State University system is a hallmark of public education, providing accessible pathways to higher learning and education that benefits all New Yorkers and beyond. As the representative of SUNY New Paltz, Columbia-Greene Community College, and Dutchess Community College, I'm incredibly proud to have helped champion a historic investment in our public education system in this year's budget that will directly support students and faculty, ensuring SUNY continues to be a beacon of opportunity in our communities well into the future."

About the State University of New York
The State University of New York is the largest comprehensive system of higher education in the United States, and more than 95 percent of all New Yorkers live within 30 miles of any one of SUNY’s 64 colleges and universities. Across the system, SUNY has four academic health centers, five hospitals, four medical schools, two dental schools, a law school, the country’s oldest school of maritime, the state’s only college of optometry, and manages one US Department of Energy National Laboratory. In total, SUNY serves about 1.4 million students amongst its entire portfolio of credit- and non-credit-bearing courses and programs, continuing education, and community outreach programs. SUNY oversees nearly a quarter of academic research in New York. Research expenditures system-wide are nearly $1.1 billion in fiscal year 2023, including significant contributions from students and faculty. There are more than three million SUNY alumni worldwide, and one in three New Yorkers with a college degree is a SUNY alum. To learn more about how SUNY creates opportunities, visit suny.edu.


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