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Governor Supports Creation of Low Interest Student Loans

By Mark Scott

Buffalo, NY – Governor David Paterson is supporting a plan to create low-interest student loans for public and private universities in New York.

The state Commission on Higher Education proposed the subsidized loan program in a 105-page report released Monday. It would be financed through tax-exempt bonds.

The governor also supports a recommendation to deregulate some areas of the State University of New York system. UB President John Simpson served on the commission and was in Albany for the report's release. Simpson said he's pleased with Paterson's apparent commitment to the SUNY system.

The panel is also recommending the addition of two thousand more full-time faculty over the next five years.

The State Legislature must now act on the commission's recommendations.