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Q&A
Federal funding cuts and impact on CUNY programming
0:29:30
·
147 sec
Council Member Brannan discusses the impact of federal funding cuts on CUNY programming with CFO Sherif Soliman. Soliman explains the main sources of federal funding for CUNY and potential impacts of proposed changes.
- $112.4 million in federal funding for CUNY sunset in FY24
- Major chunk of federal funding comes from Title IV, including Pell Grants, federal loans, and work-study programs
- In FY24, CUNY received $888 million in Title IV federal student aid
- 57% of CUNY students receive Title IV federal aid
- Concerns about proposed changes in budget reconciliation bill, including changes to Pell Grant eligibility criteria
Justin Brannan
0:29:30
Okay.
0:29:31
I just have a couple more.
0:29:32
So the threat of federal funding cuts is obviously casting a shadow over this entire process.
0:29:41
In FY24, dollars '1 hundred and '12 point '4 million in federal funding for CUNY sunset.
0:29:49
Did the sunsetting of these funds cause any of CUNY's programming to be significantly reduced or eliminated?
Sherif Soliman
0:29:59
So I'm not sure of that 112,000,000.
0:30:02
I'm just if we focus for a second on the on the sort of tax levy side of the equation, there's also the research grant side, which I'll let my colleagues address.
0:30:14
On the tax levy side, the biggest chunk of federal aid that CUNY receives is from Title IV federal funding.
0:30:22
That includes Pell Grants.
0:30:23
That includes federal loans.
0:30:26
That includes federal work study.
0:30:29
To give you an idea of the magnitude of those funds, in fiscal year twenty twenty four, '8 hundred and '80 '8 million dollars was received in title four federal student aid.
0:30:44
So that is essentially the bulk, the major chunk of federal funding that CUNY receives.
0:30:52
On the federal research grant side, that number's 200,000,000.
0:30:55
And I know that, you know, the chancellor and the provost can address some of the impacts there.
0:31:03
Clearly, we are concerned about the budget reconciliation bill moving through congress, And there are certain provisions in there that would affect Pell.
0:31:18
57% of our students receive Title IV federal aid.
0:31:23
That's not only Pell, but that's the loans.
0:31:26
That's the federal work study.
0:31:28
So that's a big, big chunk, obviously, of our students that we serve that that come to CUNY for an education.
0:31:37
So we are really concerned that the provisions that are moving forward that seek to change sort of the full time credit load to qualify for full Pell
Justin Brannan
0:31:47
Mhmm.
Sherif Soliman
0:31:47
From 12 credits to 15 credits will have a real big impact as well as the impacts on the loans.
0:31:54
So that's something that we're watching very closely.