Syracuse University officials plan to cut $20 million between this and next year’s budget. The cuts, approximately 4.5 percent of the $950 million university budget, will not include any cuts from the university’s academic spending, The Daily Orange reported Monday. Included in the plan is a $3.3 million increase in student financial aid. Officials are seeking alternative ways to invest SU’s $775 million endowment, which is down almost 20 percent since June 1. The planned cuts will consolidate jobs and freeze salaries of academic deans.

SU faculty members explain the budget cuts and their effect on students.

The Daily Orange: How do the budget cuts directly affect students’ financial aid?

Copeland-Morgan: The budget cuts are the university’s effort to tighten up on expenditures and look for ways to be effective. Chancellor Cantor realizes families are facing a financial crisis and we have increased our commitment to ensure that students have the financial aid necessary to pay those bills. We are giving attention to students who need the financial aid and I am really pleased that the university recognizes the importance of financial aid, so my staff will still be able to assist students. It’s a response to circumstances that are not normal. I feel strongly that we will be able to provide to those students who need financial aid.

The Daily Orange: Do you think, with the current state of the economy, that more students will be filing for financial aid?

Copeland-Morgan: I think that the financial challenges the university is facing are not unique to Syracuse University. We see institutions across the nation feeling the impact of the current state of the economy. The university is discussing how we can be effective and efficient and reduce cost at the same time. We need to continue to help middle-class families and provide access for students from low-income families. The budget cuts are an opportunity for the university to look at what we are doing and strengthen our ability to meet needs of students in a cost-efficient way.

The Daily Orange: Are the current economic situation and the Syracuse University budget cuts related?

Wasylenko: I don’t think the economy has played a major factor in Syracuse University’s decision to cut spending. The deficits that SU is trying to combat are those of public safety and the alert systems, as well as the steam plants. SU is taking steps that would need to be taken, regardless of the current economic situation. Thankfully, the academic departments will not be touched, but the university is sort of at a wait-and-find-out situation for next year’s incoming freshman class and what families and students can afford.

Published on November 19, 2008 at 12:00 pm