The Governor of New York State, Elliot Spitzer has proposed the creation of a $4 billion endowment to support public higher education. He would raise that endowment by selling or leasing some of the state’s lottery revenues to the private sector. As noted, some in state government have expressed discomfort with the use of gambling revenues in this way.
Spitzer also has proposed the addition of 2,000 additional faculty across SUNY and CUNY, the City University of New York. Of those, 250 will be top researchers who will lead the graduate programs of the New York schools. It’s not so clear whether those additional faculty will be funded out of the endowment or through other state resources.
Congrats to the governor for proposing such an ambitious plan. We’ll be interested to see how it helps the New York schools in competing with the Ivy League and other top tier universities.
For more about this see… The Spectrum Online:
Filed under: Ivy League, endowment
