Hochul Triples Funding for Buffalo Scholarship Program Amid Private School Aid Cuts

New York boosts funding for Buffalo scholarship program, while cutting aid to private universities, highlighting the state's commitment to educational equity.

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Hochul Triples Funding for Buffalo Scholarship Program Amid Private School Aid Cuts

Hochul Triples Funding for Buffalo Scholarship Program Amid Private School Aid Cuts

Governor Kathy Hochul and the New York legislature have significantly increased funding for the nonprofit organization Say Yes Buffalo in this year's state budget, tripling its allocation from $2.5 million to $7.5 million. Say Yes Buffalo, which provides scholarship funds to help Buffalo students pay for college, has politically powerful board members and has raised over $50 million for its own endowment.

The funding boost for Say Yes Buffalo comes as the state has eliminated operating aid to private universities with endowments exceeding $750 million, a move anticipated to save approximately $18 million. Despite this change, Say Yes Buffalo CEO David Rust expressed appreciation for the state's investment, which he believes will help secure the organization's long-term work.

Why this matters: The increased funding for Say Yes Buffalo highlights the state's commitment to supporting organizations that assist students in pursuing higher education, particularly those from underserved communities. This aligns with Governor Hochul's goal of ensuring all students have access to quality educational opportunities, regardless of their socioeconomic background.

Say Yes Buffalo has seen success in improving high school graduation rates, college enrollment, and college graduation rates in Buffalo. The organization received a separate $10 million allocation from the state last year, further bolstering its efforts. Governor Hochul emphasized the importance of providing equal educational opportunities to all students and supporting organizations like Say Yes Buffalo.

The funding increase for Say Yes Buffalo coincides with the anticipated victory of Senator Tim Kennedy in a special election for Congress. However, Say Yes Buffalo CEO David Rust noted that the organization does not expect to receive state funds next year, despite the current boost in support.

Key Takeaways

  • NY increases funding for Say Yes Buffalo scholarship program to $7.5M.
  • State eliminates operating aid to private universities with $750M+ endowments.
  • Say Yes Buffalo aims to help underserved students access higher education.
  • Program sees success in improving graduation and college enrollment rates.
  • CEO notes no expected state funds for Say Yes Buffalo next year.