The president of Wells College is questioning Gov. Andrew Cuomo’s proposal to eliminate a funding source for private colleges, saying it takes money away from students.
The 2018-2019 executive budget calls for the removal of a $35 million aid program for independent colleges and universities commonly called “Bundy aid.” The program divvies up the funds among over 100 private institutions in New York state. It began in 1969 and is named after McGeorge Bundy, chair of an organization that helped get the program started.
Under the governor’s budget proposal, the Bundy funds would be re-appropriated in a $30 million competitive round of the Higher Education Capital Matching Grants program, which helps bankroll private colleges’ capital projects. The institution must contribute $3 for every dollar the state gives to a project.