FAST FORWARD SYRACUSE

Syracuse University announces $100 million academic initiative

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Included in the initiative are plans to provide personalized academic and career assistance, rebalance student loans and launch a fundraising campaign to support need-based financial aid and scholarships.

Syracuse University announced Wednesday a $100 million academic initiative called Invest Syracuse: Advancing Academic Excellence and the Student Experience.

Invest Syracuse follows goals set in Chancellor Kent Syverud’s Academic Strategic Plan, which is one of three parts in his Fast Forward Syracuse initiative.

“Invest Syracuse is a sound strategy as we pursue shared goals and a vision that is both aspirational and achievable,” Syverud said in an email sent to the SU community. “As a university, we will do what we encourage our students to do: Build upon distinctive strengths, stay focused, invest resources wisely and dream big.”

Over the next five years, as part of the initiative, some of the ways SU will work to improve students’ learning experiences are by:

  • Providing personalized academic and career guidance
  • Ensuring students have global learning experiences while at SU
  • Hiring 100 additional faculty scholars
  • Supporting faculty research by improving the Office of Research and creating a Faculty Innovation and Discovery Fund
  • Introducing Opportunity Syracuse Initiative, a fundraising campaign to support need-based financial aid and scholarships for undergraduate students
  • Rebalancing student loans and grants, so students graduate with less debt

Funding for Invest Syracuse will be generated from administrative cost savings and efficiencies, philanthropy and fundraising and rebased tuition, according to a Syracuse University News release.

Administrative spending will be reduced by $30 million, and an additional $40 million is expected to be raised through fundraising. A $3,300 Invest Syracuse premium will be added to student tuition starting fall 2018, in addition to a 3.9 percent tuition increase that is currently pending board approval, according to the release. Current students or those entering SU this fall will not be impacted by the premiums.

“When in place, (Invest Syracuse) will bring far stronger support for our students and will intensify our commitment to both new and continuing faculty,” said Cathryn Newton, special advisor to the chancellor and provost for faculty engagement, in the release.

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