News Summary
The New York Institute of Technology wraps up an impactful eight-year tenure of President Hank Foley, who has elevated the university’s reputation and academic offerings. With the introduction of innovative PhD programs, extensive research initiatives, and impressive financial growth, NYIT has positioned itself as a leading institution. Foley’s inclusive approach has enhanced the student experience, especially for first-generation college students, setting a strong foundation for future advancements in education and research.
New York
The New York Institute of Technology (NYIT) is concluding a transformative eight-year period under retiring President Hank Foley, who has significantly enhanced the institution’s reputation and educational offerings. NYIT has seen improvements in academic programs, research capabilities, and the overall student experience, marking a new era in education and research excellence for the university.
During Foley’s tenure, NYIT introduced four new PhD programs and established a state-of-the-art $31 million Biomedical Research, Innovation, and Imaging Center. This center is designed to facilitate advanced studies in the treatment areas of cancer, heart disease, and Parkinson’s disease. Additionally, NYIT’s performance in the U.S. News & World Report rankings improved remarkably, climbing from 47th to 15th among regional universities in the North, showcasing its elevation in the educational landscape.
Joseph Ambrosio, a notable alumnus and CEO of Unique Electric Solutions, remarked on NYIT’s growing prominence, pointing to its increasing recognition as a leading institution in the Northeast. Foley’s leadership has been instrumental in prioritizing the student experience, urging a shift from traditional methods of “weeding out” students to fostering a more supportive and inclusive educational environment. This is particularly significant as about one-third of NYIT’s student body are first-generation college students, and over 40% qualify for federal Pell Grants due to low income.
Demographic Snapshot
Recent statistics reveal NYIT’s diverse student demographic, with 23% of students identifying as Asian, 21% as white, 20% as Hispanic, and 10% as Black. Additionally, more than 18% of the student body comes from international backgrounds. This diversity enriches the educational experience and contributes to a broader understanding of global perspectives.
Financial Growth and Research Funding
Under Foley’s administration, NYIT’s endowment has seen substantial growth, increasing from $79.4 million in 2017 to an impressive $125.1 million as of June 2023. This robust financial foundation has enabled the university to expand its research initiatives significantly. Researchers at NYIT have attracted notable federal funding, receiving a $1.8 million grant from the National Institutes of Health for heart disease research and a $750,000 grant from the National Science Foundation aimed at sustainable urban development.
Innovative Academic Programs and Initiatives
NYIT’s strides in enhancing its academic portfolio are evident with the launch of an Honors College and various cutting-edge academic offerings, including a minor in artificial intelligence and doctoral degrees in medical and biological sciences. Furthermore, NYIT introduced a $5 million fund to empower student entrepreneurs, providing them with seed funding through a competitive “Shark Tank”-style initiative.
Also noteworthy is NYIT’s new cooperative education program, which provides STEM students with vital work experience in their respective fields. This hands-on learning approach is designed to equip graduates with the practical skills necessary to thrive in competitive job markets.
Aspirations for the Future
Foley’s departure coincides with a forward-looking vision for NYIT, aiming to attain R2 designation in research classification by 2028. This designation would indicate a significant increase in both research output and educational impact. As current students, like Kelly Borges, engage in high-level research projects backed by strong faculty mentorship, the future of NYIT appears promising.
As NYIT enters this new chapter following Foley’s retirement, it stands as a testament to the transformative power of leadership and innovation in higher education, marking a legacy that could continue to foster academic excellence and research innovation for years to come.
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