New York City is bustling with a variety of colleges, both public and private. Private institutions often burden students with lifetime loans, while the City University of New York (CUNY) system has proved to be a model of accessibility, diversity, quality and affordability.
Unequivocally, CUNY has become a major driving source to New York City and state. According to Spotlight, the system employs about 40,000 faculty, instructors and operational staff.
Notably, CUNY alumni who enter the workforce as full-time employees go on to earn significantly higher wages than the average New Yorker. Companies also benefit from staff that reflect a wide range of gender and background diversity.
Moreover, CUNY alumni compete strongly in career and salary success with graduates from the more prestigious institutions. About 80% of City University graduates stay to work in the state, significantly contributing to the collective tax and workforce of New York.
They fill critical roles in healthcare, social assistance, education and public administration. This year, CUNY has faced large budget cuts from the state. The mayor, as part of a “budgetary savings initiative,” has proposed cutting $20 million per fiscal year.
According to the Professional Staff Congress (PSC) CUNY public funding from New York State covers 60% of the operating budget for CUNY senior colleges and their entire capital budget. At present, student tuition accounts for the remaining 40%.
The amount withheld from CUNY is continuing to add up– during and after the pandemic enrollment declined. An article from Cuts to CUNY notes that inflation and rising external costs such as energy and leases, have further constrained CUNY’s operating budget, threatening the system’s long-term financial stability.
In a landscape dominated by elitist, exclusive and expensive colleges, the need for easily accessible higher education remains crucial. Without adequate support, CUNY may struggle to extend its aid, maintain its utility and increase the number of graduates.
All the while, New York benefits greatly from the thousands of teachers, nurses and other specialists who graduate from CUNY.
Further, underfunding could deal a serious blow to the city’s economy, not to mention the damage and loss of opportunity to its student citizens.