Lawmakers pass funding package with $56.1 million for state colleges

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Lawmakers pass funding package with $56.1 million for state colleges

Fri, 09/25/2020 - 2:45pm -- tim

Allocation includes bridge funding to stabilize the system for students, employees, and communities of VSCS

Vermont Business Magazine Today, the Vermont Legislature advanced to the governor a state budget that underscores the state’s commitment to the Vermont State Colleges System. The package includes an additional $56.1 million for the Vermont State Colleges System: $30 million of annual base funding, $23.8 million of emergency bridge funding to stabilize the colleges’ finances, and $2.3 million of Coronavirus Relief Funds (CRF) for workforce training to support Vermonters impacted by the pandemic. This brings the total state funding for this fiscal year to $68.6 million. The budget now goes to Governor Scott before it becomes law.

“This is a significant moment,” said Sophie Zdatny, Chancellor of the Vermont State Colleges System. “These actions reinforce the state’s educational and economic promise to the students, families, and communities of Vermont who depend on VSCS.”

The Vermont State Colleges System is dedicated to providing a high-quality education that is accessible, affordable, and that prepares Vermont students for the workforce and careers of the 21st century. Each year, more than 9,142 Vermonters and 1,918 out-of-state students work to better their lives and economic standing pursuing VSCS degrees.

“The bridge dollars will allow us to stabilize our finances, giving us the time we need for a meaningful transformation of the system,” said Zdatny. She continued, “while transformation will not happen overnight, we have already started. Working with the Legislature, our Presidents, students, staff, and faculty, we are creating a Vermont State Colleges System for the next 50 years. One that is stronger and more unified with a focus on maintaining quality and access.”

Source: Montpelier, VT – VSCS 9.25.2020