In New York, while census data shows that the overall population of the state grew from 2010 to 2020, almost 95% of that growth was in the 65 and over demographic. Meanwhile, the “25 and younger” population fell by nearly 260,000. This competition over a smaller base of college-bound students has contributed to our enrollment being down around 40-percent since Fall 2015. Because tuition is the single largest source of direct revenue for our campus, enrollment declines have contributed to financial challenges that have led to the structural deficit we have been grappling with for more than a decade. In short, our base expenditures simply far outweigh our revenues.
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