COLLEGE TALK
Presidents discuss higher ed in the Capital Region during annual panel
TROY, N.Y.>> A panel of local college presidents met on Thursday for a discussion about their academic communities and the impact of higher education as an economic driver in the greater Capital Region.
This annual college presidents panel discussion was hosted by the Rensselaer County Regional Chamber of Commerce Thursday morning at Hilton Garden Inn in Troy, attracting a large crowd of interested event-goers from the area’s business and nonprofit sectors.
College presidents Br. F. Edward Coughlin of Siena College, Drew Matonak of Hudson Valley Community College, Dr. Susan C. Scrimshaw of The Sage Colleges, Dr. Carolyn J. Stefanco of The College of Saint Rose and Dr. James R. Stellar of the University at Albany engaged in a lively conversation moderated by Guha Bala, president of Velan Ventures.
The leaders spoke about the issues that higher education institutions are facing in New York State, such as funding and student debt, and their collective responsibility to overcome them moving forward.
“We compliment each other more than we compete with each other,” Matonak said of his fellow panelists and their schools.
Much of the panel discus-
sion focused on Governor Andrew Cuomo’s recent proposal of a free tuition program for middle class New Yorkers to attend public universities.
Some of the panelists argued that this program would not help a large enough group of students, and it would only allow them to attend public schools, not the private colleges in the region.
Solutions presented by the panelists included increasing eligibility and offering the option for students to use the funds at private institutions if they prefer.
Scrimshaw believes it is important to preserve the range of options that students have in the Capital Region and across New York State.
On student debt, the speakers had two perspectives, one that higher education should be made more affordable and one that the it is the duty of the schools to prepare the students for a future that will allow them to pay off the debt in a timely manner.
Student debt is the second largest category of consumer debt behind mortgages, the conversation revealed, but Stefanco brought up that the average student debt total for undergraduate school is $30,000 per student, or about the price of a car. “It’s a really good investment in their future, as long as they graduate,” she said.
The worst scenario, panelists agreed, is when a student accumulates the college debt but does not earn a degree.
Though the college presidents did present some opposing views, all present agreed that improving the higher education situation is a job that should be handled collaboratively, between the public and private universities in the area as well as the members of the regional economy, like those present from the Rensselaer County Regional Chamber of Commerce.
“That relationship is extremely important,” Coughlin said.
Though the Capital Region is recognized for its strong academic scene as an economic driver in the community, the landscape of higher education is changing and the area’s participants must adapt.
“Our job is complicated,” Stellar said, “but we can do it together.”