Albany Watch

The State University of New York Board of Trustees voted unanimously today to approve a new initiative to combat mounting student loan debt, which Gannett’s Albany Bureau reported first.

SUNY Chancellor Nancy Zimpher spoke about the initiative, Smart Track, at the board meeting Wednesday in New York City.

“As the largest public university system in the nation, we not only have a tremendous opportunity to effect positive change that will benefit our students and their families—we would argue that we have an obligation to do so,” she said.

“We will be taking a proactive, comprehensive approach—the first ever of any university system in the U.S. to address this growing national concern,” she said.

“We want to engage our students who are at the highest risk of default during their time on campus so we can help them prepare with reducing their debt,” she said. “We want to make college costs totally transparent so that everybody—family members and students—can understand what they’re getting into, if you will, and clearly outline the financial aid opportunities that can help students: help them complete their degrees, obtain a job after graduation and be able to manage their debt, if debt is necessary.

“It’s been a a lot of work. It’s been a long time coming. It’s the right thing to do, and we’re the right system to be the pilot for the nation,” she finished.