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    6 years ago by @prophe
     
      NYEnglishJan2017USAFree_tuition
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      Ratings agency dings small university for spending big after a new president took over. As focus shifts to a budget deficit, question becomes whether Drew can cut spending while growing enrollment. MaryAnn Baenninger inherited a budget deficit when she came to Drew University in the summer of 2014. The next year, the small private university’s deficit grew. And that was by choice. Drew spent more as Baenninger sought to put money into the university’s campus, students and employees. The university issued its first raises in about five years. It hired a respected enrollment guru and increased its financial aid spending. It renovated the dining hall. The spending was a change for Drew, a pricey university to the west of New York City in Madison, N.J., which had been preparing for budget cuts following several years of dropping enrollment before Baenninger arrived. But, according to Baenninger and members of her administration, the spending helped to keep talented staff and faculty members from leaving, improve student retention and increase applications from prospective students. “We were losing kids on the food, for God’s sake,” Baenninger said. “Our salaries were going downhill. Now they’re going up.” Recently, however, the spotlight has shifted to Drew’s deteriorating financial situation. Moody’s Investors Service drove home that point this month by downgrading Drew’s bonds for the second time in 15 months. Moody’s dropped one series of bonds from Ba3 to B2 and two others from Ba3 to B3, sinking them farther into junk territory and signifying that they are highly speculative. Moody’s pointed to operating deficits that are expected to last longer than previously projected, along with a competitive student market constraining possibilities for short-term revenue growth. It said Drew has no more unrestricted liquidity left and would have to rely on loans and distributions from temporarily restricted endowment assets for working capital. Moody’s also assigned a negative rating outlook. “The negative outlook reflect
      6 years ago by @prophe
       
        Mar2017USAEnglishdeficitbudget_cutNY
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        For Democrats, the one great policy legacy of 2016 was the party’s embrace of free tuition for public colleges and universities. After Bernie Sanders made it a signature policy proposal and proved its political potency (especially with millennials), Hillary Clinton adapted and adopted it when she won the nomination. Over the course of the campaign, the idea evolved from a progressive pipe dream into a concept with massive momentum. This thing was going to happen! But when Donald Trump won and Republicans took control of Congress, a federal free-tuition program became a pipe dream again. The only chance for free college was to start at the state level—in one of the few remaining blue states—and create a model that could spread nationally. Given the popularity of the idea, it’s not surprising that two ambitious Democratic governors–both presidential prospects for 2020—have taken up the call. Both New York’s Andrew Cuomo and Rhode Island’s Gina Raimondo are vying to be the governor who made free college happen—and both their plans are running into resistance from their own party’s lawmakers. Some of the controversy was to be expected: It’s no surprise that fiscal conservatives think it’s another costly social program with uncertain returns. Other legislators and educators worry about how it will affect enrollment at state schools. But for liberals, the legislative battles have exposed a series of tricky policy trade-offs that cut to the heart of a larger national debate: What kind of “progress” should Democrats be fighting for? Should a new social program benefit everyone equally, like Social Security, or help low-income families the most? And how valuable is tuition relief, really, if the state doesn’t help students with other college expenses, like room and board and books? The surface simplicity of the whole idea is one of its great calling cards: Free college. How complicated could that be? The debates in New York and Rhode Island have sometimes been acrimonious and divisive. But that’s far from a bad thing:
        6 years ago by @prophe
         
          Free_tuitionNYObamaUSAEnglishMar2017
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          For too many Americans, the rising costs of college are putting higher education out of reach. This comes at a time when a postsecondary degree is almost mandatory for earning a middle-class living. In New York alone, 70% of jobs require a college degree, but only about 46% of adult New Yorkers have one. We must close that gap. Last week, Gov. Cuomo made history when he signed into law a first-in-the-nation policy to cover tuition at all public colleges and universities in the state. In allowing students from families making up to $125,000 a year to attend SUNY and CUNY two- and four-year schools tuition-free, the Excelsior Scholarship promises to transform the lives of thousands of students and countless more potential students. Historically, such groundbreaking programs face initial criticism. In the 19th and early 20th centuries, there was resistance to compulsory education. In the 1960s, the American Medical Association warned that Medicaid would destroy quality health care.
          6 years ago by @prophe
           
            NYFree_tuitionstudent_aidUSAApr2017English
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            New York's private colleges and universities don't know what to expect under the state's free tuition program for students attending public colleges. New York’s freshly signed free public tuition program puts the squeeze on many of the state’s weakest private colleges and universities. Private college presidents know it. But most aren’t yet sure what to do about it. Those presidents reacted with a mix of dismay, confusion, criticism and, in some cases, resolve in the days after New York leaders struck a deal to start a tuition-free public college program this fall. The creation of a program in New York caps a winding and unexpected path for the free-college idea, which New York Governor Andrew Cuomo proposed early this year after it appeared to have died with Hillary Clinton’s presidential bid. Cuomo held a ceremonial bill signing for the program Wednesday, which Clinton attended. The program, called the Excelsior Scholarship, will allow New York residents from families earning up to $125,000 per year to attend the state’s public community colleges and four-year colleges without paying tuition. It will go into effect this fall for students who are newly enrolling at institutions in the State University of New York and City University of New York systems and who come from families with incomes of up to $100,000 per year. The income limit will jump to $110,000 in fall 2018 and $125,000 in 2019. Cuomo’s office estimates that about 940,000 families in the state will be eligible at that point. The program poses a significant challenge for New York’s many small private institutions, which suddenly find themselves facing a new kind of competition and increasing inter-sector warfare in the state. The pressure will be highest on tuition-dependent colleges and universities that already compete for students in part by heavily discounting their tuition and that draw most of their students from inside the state. More prestigious colleges and universities, which pull in more students from out of state and are more selecti
            6 years ago by @prophe
             
              Apr2017Free_tuitiontuitionprivateNYUSAEnglish
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              When Le Moyne College President Linda LeMura first learned of Gov. Andrew Cuomo's proposal to provide free tuition at New York's public colleges and universities, she thought it would be an opportunity for the state to strengthen the partnership between public and private schools. In the four months since Cuomo first detailed his plan and a few weeks removed from the 2017-18 state budget's adoption, LeMura doesn't see how the program — named the Excelsior Scholarship — will help the state's higher education institutions. Once fully phased in, the Excelsior Scholarship will be available for students who attend State University of New York colleges and universities and whose families earn no more than $125,000 annually. The program is more complex than just simply distributing free tuition to SUNY students. There are requirements. Before receiving the scholarship, students are required to apply for other federal and state aid. If they are awarded the scholarship, they must maintain an adequate grade point average and enroll in at least 30 credits each academic year. After graduating from a state institution, students who receive the scholarship must live and work in New York for a period equal to the duration of the scholarship. For example, if a student receives the scholarship for every year of their undergraduate studies, they must stay in the state for four years after commencement. Students who break this obligation will have their scholarship become a student loan they must pay back. The impact of the program won't be known until after it begins this fall. But LeMura and Wells College President Jonathan Gibralter have concerns about the free tuition benefit. For LeMura, the main issue is how the public and private schools will be pitted against each other. She also thinks the state's approach won't address the real driver of costs: the existing higher education business model. "Someone has to pay for the increasing costs and the business model itself is under immense pressure because the governme
              6 years ago by @prophe
               
                SUNYNYNew_YorkUSAFree_tuitionpublic-privatepublic-private_partnershipApr2017
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                6 years ago by @prophe
                 
                  NYNew_YorkUSAApr2017EnglishFree_tuition
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                  Governor Cuomo gave a press release on April 8 announcing the new Excelsior Program, which would offer free tuition to all New York State universities (SUNY) and colleges (CUNY) for low-income residents. The recently approved program makes New York the first state to offer free tuition in any form. Cuomo argued, “Today, college is what high school was—it should always be an option even if you can’t afford it. The Excelsior Scholarship will make college accessible to thousands of working and middle class students and shows the difference that government can make.” The press release announces a newly approved budget for education that offers “a record $7.5 billion in total support for higher education, a $448 million, or 6.3 percent, increase over last year.” In addition to a free tuition, the funding will go towards increased resources for TAP, ‘Get On Your Feet’ Loan Forgiveness Program, and an $8 million allocation for open education resources for SUNY and CUNY students. The Higher Education Service Corporation (HESC) states the requirements plainly on its website. “If you are a NYS resident whose family household adjusted gross income does not exceed $100,000 for the 2017-18 academic year and you complete 30 credits per year, you will be able to attend a SUNY or CUNY college tuition free.” In future years the cap for family income will increase. The following year will include families with a gross income of up to $110,000. From 2019 and beyond a family earning up to $125,000 can qualify. Students already enrolled in a SUNY or CUNY institution can also benefit from the new program. The intention behind the additional funding, according to its press release, is to work towards “alleviating crushing burden of student debt and placing more New Yorkers on path to financial security.” Of families who meet the economic standards, 80% are calculated to qualify for the program. Students who meet the monetary requirements must be consistently on track to graduate in four years with a passing grade point aver
                  6 years ago by @prophe
                   
                    Free_tuitionNew_YorkNYApr2017Englishstate_system
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                    Gov. Andrew Cuomo just took the first step in creating accessible college education statewide. On April 12, Cuomo signed legislation that will enact the first-in-the-nation Excelsior Scholarship program that will provide tuition-free college for both SUNY and CUNY institutions to middle-class families and those who might not have been able to afford it beforehand. Under this plan, families making under $125,000 yearly will qualify for tuition-free college, meaning that nearly 80 percent, or more than 940,000 families with college-aged children will be eligible. The plan, proposed by Cuomo back in January, has caught the attention and approval of Vermont Senator Bernie Sanders and former United States Secretary of State Hillary Clinton. Sanders commended Cuomo for his efforts toward creating easily accessible higher education. “Every American, regardless of income, must have the right to a higher education,” Sanders said. “I congratulate Gov. Cuomo and New York State for helping to lead the nation in that direction.” A driving force behind the plan lies in the estimation of 3.5 million jobs in New York State requiring an associate’s degree or higher by the year 2024. The Excelsior Scholarship program will be implemented in phases over the next three years. Beginning in the fall of 2017, families making under $100,000 will be given the opportunity to apply to the program. Within the next year, the cap will be raised to $110,000 and to $125,000 in subsequent years. Despite its seemingly beneficial attributes, the governor’s plan has been met with skepticism. While the plan claims that 940,000 families would be eligible, the amount of families who would receive the benefits would be significantly less. According to The New York Times, the plan will not cover as many families as the governor hopes it will. By the time the plan is fully enacted in 2019, director of State Operations Jim Malatras believes it will only cover 200,000 families rather than the approximate million that had been originally estimated
                    6 years ago by @prophe
                     
                      Free_tuitionUSAconcernNew_YorkNYApr2017English
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