New York urged to launch endowment for public universities

New York is facing calls from faculty to boost the state’s public university system by launching a university endowment – a step dozens of other US states have taken, writes Marina Villeneuve for Associated Press.

Lawmakers on the state Senate higher education committee held a hearing on Monday 22 November as the state budget process continues. New York’s economy is still rebounding from the COVID-19 pandemic, but the state is facing demands for increased spending at a time when tax collections are strong. The state’s general fund as of September was US$4.5 billion higher than the previous September.

It’s time for New York to allocate US$150 million in additional aid to state-operated campuses, said Frederick Kowal, president of the United University Professions union, which represents more than 37,000 academic and professional faculty.
Full report on the AP News site