Framework for Financial Sustainability
For more than 150 years, Maritime College has embodied the values of loyalty, valor and excellence, instilling in our students the required knowledge and skills to lead an ever-changing global maritime industry. Doing so has required change over time to ensure the institution stays ahead of the curve and meets students’ evolving needs.
On Jan. 28, 2025, Maritime President Rear Admiral John A. Okon announced a new fiscal stability plan designed to invest in the campus’s strengths, manage costs, and ensure the institution continues to serve as the nation’s pre-eminent maritime college for students of all backgrounds.
The five-year plan addresses a $7.7 million structural deficit and maximizes investments in the SUNY system by New York Stateand the federal government. Developed with campus community input through Maritime’s shared governance structure and in consultation with SUNY experts, the plan focuses on two core areas:
This includes an annual budget meeting with departments, submission of monthly budget reports, cabinet management of disbursements, and weekly Personnel Review Committee meetings, with an emphasis on analyzing faculty and staff vacancies, the impact of those positions on Maritime's core mission, and whether students are best served by hiring in other areas.
Strong and sustainable industry and academic partnerships are key pillars of how Maritime delivers to students. The college will continue highly successful, revenue-generating partnership programs to train the next generation of offshore wind industry workers; to help students to meet international standards of training, certification, and watchkeeping for the maritime industry; and to help high school students get a head start on their higher education and enter the Maritime College pipeline through the Urban Assembly New York Harbor School.
Additionally, due to declining enrollment, a graduate program in Maritime Studies has been identified for deactivation in the 2027-28 academic year. This timeline will enable currently enrolled students to complete their degrees. In addition to cost savings, the deactivation will allow for the reallocation of faculty and other resources toward other in-demand programs critical for student success.