On October 20, 2026, CICU President Lola W. Brabham testified in Albany at a public hearing on Federal Lending Changes in Higher Education, convened by the Assembly Standing Committees on Higher Education and Banks, chaired by Assemblymembers Alicia Hyndman and Clyde Vanel, respectively.
Speaking on behalf of New York’s private, non-profit colleges and universities, President Brabham outlined how the elimination of Graduate PLUS loans and new federal borrowing limits are creating financing gaps for students pursuing advanced degrees. Approximately 32,000 New York graduate students relied on Grad PLUS in fiscal year 2025.
Her testimony emphasized the consequences for New York’s workforce, particularly in education, healthcare, and behavioral health. Borrowers who turn to private financing may face stricter credit requirements, higher interest rates, and fewer protections, placing additional barriers before students preparing for careers their communities urgently need.
President Brabham urged the Legislature and Governor Hochul to enact and fund a state-backed graduate student loan program. Legislation sponsored by Senator Toby Ann Stavisky and Assemblymember Hyndman would establish a framework funded through bond financing and administered by the Dormitory Authority of the State of New York. The program would help eligible New York residents cover remaining educational costs at participating accredited institutions in the state after exhausting other available aid.
“Students are deciding now whether they can afford to continue their education, and where they will build their futures,” President Brabham said in her written testimony. “New York must act with that same urgency to preserve educational opportunity and retain the professionals our communities desperately need.”
CICU will continue working with state leaders to advance financing solutions that preserve access to graduate education and strengthen New York’s workforce.
View the written testimony.