May 3, 2023
Albany, NY

Governor Hochul Announces Unprecedented Support for Education in FY 2024 Budget, Including $34.5 Billion in School Aid

Governor Hochul Announces Unprecedented Support for Education in FY 2024 Budget, Including $34.5 Billion in School Aid

School Aid Increase of $3 Billion, Highest Level of State Aid, Fully Funding Foundation Aid

$150 Million Increase in Prekindergarten

$134 Million in Expanded Access to Free School Meals

Expands Educational Opportunities with 22 Additional Charter Schools

Historic Investments for SUNY's Transformation and CUNY's Strategic Needs

$2.4 Billion in New Capital for SUNY and CUNY, Largest Investment in 15 Years

$381 Million in New Operating Support for SUNY and CUNY

$500 Million State Matching Fund for SUNY Endowment Contributions

Governor Kathy Hochul today announced historic education funding included in the FY 2024 Budget, including a record $34.5 billion in total School Aid for school year 2024, marking the highest level of State aid ever. The Budget also includes significant investments for SUNY's Transformation and CUNY's Strategic Needs.

"All New Yorkers deserve access to a high-quality education, from prekindergarten through their college graduation," Governor Hochul said. "Thanks to the help of Majority Leader Stewart-Cousins and Speaker Heastie, this unprecedented level of transformational investments will open new doors for more students to build a brighter future for themselves and gain the skills needed for the jobs of the future."

Historic P-12 Education Funding

Full Funding of Foundation Aid
The Budget reflects Governor Hochul's strong commitment to education by providing additional funding to meet the needs of students, teachers, and schools. The Budget includes a historic $34.5 billion in total School Aid, the highest level of State aid in history. This includes $24 billion for Foundation Aid—a $2.6 billion increase from last year—to deliver on Governor Hochul'spromise to fully fund Foundation Aid for the first time in history. New York continues to provide the most education funding per-pupil in the nation. This funding will help give every child in New York the tools to succeed through a high-quality education.

Expanding Universal Prekindergarten
Governor Hochul is also providing an additional $150 million to expand high-quality prekindergarten programs to 20,000 children across the State, bringing the State's total annual prekindergarten investment to more than $1.2 billion. With this increase, the State is more than 95 percent phased-in in terms of universal prekindergarten coverage for four-year-old children.

Increasing Access to Free School Meals
The Budget provides $134 million of State funds to incentivize qualifying low-income public and nonpublic schools to participate in the federal Community Eligibility Provision program, allowing all students in those schools to eat breakfast and lunch at no charge regardless of their family's income.

Building a Workforce for the Future
The Budget allocates $20 million for Early College High School (ECHS) and Pathways in Technology Early College High School (P-TECH) funding to allow students to earn college credits in high school, prioritizing students in high-need school districts. The Budget also includes an additional $10 million to create a robust high school to college workforce pipeline. The funding will be available for school districts, boards of cooperative educational services (BOCES), and community colleges to develop strategic workforce plans that promote job readiness. These initiatives will help to transform New York's educational systems, preparing our students for jobs of the future.

Reforming Special Education Tuition Rate-Setting
The Budget includes $2.5 million for the State Education Department to study and design a new rate-setting methodology to streamline and improve the timeliness of tuition rates for special education schools. This funding will help ensure special education providers can continue to provide high-quality services to students with disabilities.

Expanding Educational Opportunities with 22 Additional Charter Schools
The Enacted Budget authorizes the reissuance of 22 charters that were originally issued to charter schools that have since closed. This will allow for an additional 14 charter schools to open in New York City and eight charter schools in the rest of the state.

Investing in SUNY's Transformation and CUNY's Strategic Needs

The Budget provides an unprecedented level of support for the State University of New York (SUNY) and the City University of New York (CUNY). This includes funding to implement Governor Hochul's vision for the transformation of SUNY and strategic investments in CUNY. This funding will help both systems increase enrollment and completion rates, prepare students for in-demand jobs, ensure a world-class student experience, recruit top faculty, and provide a wide range of degrees and credentials.

Providing $2.4 Billion for New Capital Projects at SUNY and CUNY Campuses
The Budget invests $2.4 billion in new funding for SUNY and CUNY capital projects to upgrade campus facilities and make strategic investments to support innovation and the growth of both systems. Projects will include facility improvements across SUNY and CUNY, cutting edge digital and IT systems, funding for new and renovated research buildings, laboratories, state-of-the-art instrumentation, and the maintenance of existing SUNY and CUNY campus facilities in a state of good repair. This includes $1.3 billion for SUNY State-operated campuses, $919 million for CUNY senior colleges, $106 million for SUNY community colleges, and $120 million for CUNY community colleges.

Increasing State Support for SUNY and CUNY Campuses
The Budget includes $256 million in new, recurring general operating aid for SUNY State-operated campuses ($163 million) and CUNY senior colleges ($93 million) and another $125 million ($75 million SUNY, $50 million CUNY) for one-time investments in transformational initiatives at campuses that support innovation, help meet the workforce needs of the future, and provide needed support to students. In addition, the budget agreement includes a multiyear commitment to provide SUNY and CUNY with $90 million (4 percent) general operating aid increases ($54 million for SUNY, $36 million for CUNY) in each of the following two academic years and provides both systems with flexibility to increase non-resident tuition to generate additional campus operating revenue.

$500 Million State Matching Fund for SUNY Endowment Contributions
The Enacted Budget creates the first-ever New York State matching fund for contributions made to the endowments of SUNY's four university centers: Buffalo, Stony Brook, Albany, and Binghamton. The fund will provide $1 in State funds for every $2 contributed to university endowments, up to $500 million in State funds.

Supporting Community Colleges
The Budget includes a $138 million funding floor to maintain current community college funding levels, avoiding a loss in formula aid due to enrollment declines.

Contact the Governor’s Press Office

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Albany: (518) 474-8418
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