Direct Institutional (“Bundy”) Aid

The Direct Institutional “Bundy” Aid program provides funding directly to independent colleges based on degree productivity. Private, not-for-profit colleges and universities use the funds for student aid and to enhance the educational experience on their campuses. Bundy Aid has been a centerpiece of New York's compact with Independent Sector colleges and universities for 50 years. 

KEY POINTS

  • Bundy Aid, currently funded at $35.13 million, is outcome-based and student-focused. It rewards colleges for the number of degrees they confer, consistent with the state’s collective goal of college completion and the need to produce more college-educated students to spur the economy.
  • Since its creation in 1968, Bundy Aid is used to fund financial aid to students and support services to help ensure students graduate. Bundy Aid also helps campuses cover the cost of mandated services, thus lowering the cost of educating students.
  • It is the only source of unrestricted support for private, not-for-profit colleges and universities in New York State, which confer 59.1 percent of all bachelor’s and graduate degrees in the state.
  • The last time the program received adequate funding was before 1990. After 1990 the program was cut from $106.1 million (1990) to $70.90 million (1991) and again to $38.40 million (1992). For the last decade, funding for the program has remained flat at $35.13 million.
  • Bundy Aid has a 50-year record of success in supporting students and the institutions that educate them.

NEW YORK STATE BUDGET

2019-20: $35.13 million

2018-19: $35.13 million

2017-18: $35.13 million

2016-17: $35.13 million

2015-16: $35.13 million

2014-15: $35.13 million