Even as New York City embarks on the public review process for the planned $2-billion-plus Cornell NYC Tech Center on Roosevelt Island, some higher education professionals warn that there will likely be a funding slowdown in coming years for some parts of the sector. While the extent of the slowdown will vary depending on factors including the institution, the culprit will be the same one that has plagued all sectors during the recession—the economy, which is causing some funding sources to pull back.
That is not to say that donors in the private sector will altogether stop donating or that public sector support will altogether disappear. In fact, New Jersey is scheduled to put a $750-million bond measure on its Nov. 6 ballot that would provide matching grants to help fund construction of certain higher-ed facilities.