cIcu | Commission on Independent Colleges and Universities

Albany, NY – “On behalf of New York’s 111 private, not-for-profit colleges and universities serving more than 460,000 students, I commend Governor David Paterson for including the historic New York Higher Education Loan Program (NYHELPs) as a centerpiece of the SFY 2009-10 Executive Budget,” said Abraham M. Lackman, president of the Commission on Independent Colleges and Universities (CICU). “This visionary program will greatly assist New York’s current and prospective college students at both private and public campuses.

“The Governor clearly recognizes that investing in higher education access and New York’s student population is of great importance during times of significant economic stress. For that reason, proposals to cut our state’s existing student and institutional aid programs should be reconsidered. In the months ahead, I look forward to working with the Executive and members of the Legislature to ensure adequate funding for New York’s students and families and to support the implementation of NY HELPs.”

“Sustaining New York's greatness is inseparable from enabling our talented young people to pursue higher education. Governor Paterson is demonstrating leadership and foresight with the State-backed NYHELPs loan program,” John Sexton, President of New York University (NYU) and Chair of the Commission on Independent Colleges and Universities Board of Trustees said. “It provides a real, low-cost option for undergraduate and graduate students, and it is a profoundly important and meaningful effort on behalf of students and families when credit market and economic turmoil has meant that — at best — they have fewer choices of lenders, and — at worst — they may have no reasonable private, alternative student loan options.”

“Governor David Paterson demonstrated an historic commitment to serving New York’s college students and families by introducing the New York Higher Education Loan Program. While providing new access to loans for those who otherwise might be denied, NYHELPs will hold down college costs for all program participants and keep New York’s higher education enterprise competitive with other states. New York is the only large, urban state in the nation—and the only state in the Northeast—that does not currently offer college students a low-cost student loan program. With our unparalleled diversity of colleges and universities, our mission should be to make it possible for all qualified students to have access to higher education and the academic programs and institutional environments that best meet their needs,” Mr. Lackman continued.

“The student loan program will expand college financing access for borrowers not eligible in today’s financial marketplace, and offer loans at a competitive rate rather than the high interest rates many students are seeing today,” Curt Gaume, President of the New York State Financial Aid Administrators Association said.

“NY HELPs is an extremely positive step forward right now, however cuts to the Tuition Assistance Program (including the elimination of aid to graduate students), the Higher Education Opportunity Program, Science and Technology Entry Programs and Liberty Partnerships counter our state’s efforts to promote higher education access and hurts low- and moderate-income families most in need. Our unified efforts to promote student access and economic development through higher education are critical,” Mr. Lackman added.