MONTPELIER – The Vermont State College System (VSCS) will be receiving an additional $56.1 million in state funding, following the legislature’s August session.
The funding includes $30 million in annual base funding, $23.8 million in emergency funding to stabilize the colleges, and $2.3 million from the Coronavirus Relief Fund for workforce training.
This brings VSCS’s total state funding for this fiscal year to $68.6 million.
The funding is awaiting the signature of Gov. Phil Scott.
“This is a significant moment,” said Sophie Zdatny, Chancellor of the VSCS. “These actions reinforce the state’s educational and economic promise to the students, families, and communities of Vermont who depend on VSCS.”
VSCS includes the Community College of Vermont, Vermont Technical College, Northern Vermont University and Castleton University. Each year, more than 9,142 Vermonters and 1,918 out-of-state students attend the schools.
A proposal from the former chancellor, Jeb Spaulding, to close three campuses in the VSCS system in response to ongoing financial challenges made worse by COVID-19, brought attention to the system’s financial straits.
“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. “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.”