Thanks for the nice comments about this discussions. I enjoy these topics with JSJ, who brings a great tone to any discussion.
I did work at SJU. I am not sure about Bundy Aid. I was a new grad at the time, and had a job responsbility tht was funded in part by capitation grants.
Some of the provisions of the Bundy Aid Act:
2. Notwithstanding the provisions of any other law, in order to qualify for state aid apportionments pursuant to this section, any institution of higher education must meet either the requirements set forth in subparagraphs
(i) through (v) of this paragraph or, in the alternative, the requirements set forth in paragraph (b) of this subdivision:
(a)
(ii) The institution must be a non-profit college or university incorporated by the regents or by the legislature, or a school of medicine, dentistry or osteopathy authorized by the regents to confer the degree of doctor of medicine, doctor of medical science, doctor of dental surgery or doctor of osteopathy.
(iii) The institution must maintain one or more earned degree programs, culminating in an associate or higher degree.
(iv) The institution must meet such standards of educational quality applicable to comparable public institutions of higher education, as may be from time to time established by the regents.
(v) The institution must be eligible for state aid under the provisions of the constitution of the United States and the constitution of the state of New York.
(vi) The institution must submit a financial statement which shall include total assets and liabilities, in such form as may be approved by the commissioner.
(b) An institution of higher education located in this state, at least one-half of the students of which are economically disadvantaged, and the course credits and degrees of which are offered by a consortium of sponsoring colleges, each of which sponsoring colleges satisfies the following requirements, shall qualify for state aid apportionments pursuant to this section:(i) The sponsoring college must be non-profit college or university incorporated by the regents or by the legislature.
(ii) The sponsoring college must maintain one or more earned degree programs, culminating in an associate or higher degree.
(iii) The sponsoring college must meet such standards of educational quality applicable to comparable public institutions of higher education, as may be from time to time established by the regents.
(iv) The sponsoring college must be eligible for state aid under the provisions of the constitution of the United States and the constitution of the state of New York.
(v) The sponsoring college must submit a financial statement which shall include total assets and liabilities, in such form as may be approved by the commissioner.
A wonderful discussion by JSJ and the Beast.
Correct me if I'm wrong(Beast I know you used to work at SJU)
One of the reasons tuition was so low during the Fr. Cahill era compared to other private schools was that he refused to take on Bundy Aid that was offered in the 1970's-1980's. By not being tied into the federal government at the time, SJU was able to have a much more affordable tuition.
I wonder what would happen if the school adopted that policy today, would they go bankrupt?