In the University Council meeting Wednesday, President John Peters addressed the state of the economy, the stimulus package and what it means for NIU and Illinois.

“For all of its complexity and criticisms, the stimulus bill has some things in it that have an impact on higher education and states in a positive way,” Peters said. “It’s not perfect, it doesn’t get us all the way there, but it may help us in the next year or two.”

Peters said the stimulus package would devote $53.6 billion nationally to “stabilize the states,” that is, to help “soften” budget cuts in higher education and K-12. Peters also mentioned that some of the allocated money could include renovation and repair funds at public and private education facilities.

Peters said that with the portion NIU could receive from this fund, it may be able to address Stevens and Cole Hall renovations. Peters also said that, nationally, $30 billion would go to families to help fund students for education in 2009 and 2010, which may mean an increase in Pell Grants. In addition, $2 billion would go to science research, and $100 million would go to science education.

“Illinois’ share of the entire federal stimulus bill is estimated at between $6.5 and $8.8 billion,” Peters said. “There are a lot of strings attached – more than anticipated.”

Peters also said, citing the Obama administration, the stimulus package could stand to save about 148,000 jobs in Illinois over the next two years, with 9,400 of those being in the 14th Congressional district.

The University Council meeting also covered semester end dates and graduation ceremonies. The Council approved future semester terms to now officially end on Saturdays as opposed to Fridays starting next term. For graduation winter commencements, it was decided the undergraduate commencement ceremonies will take place on Sundays, with graduate commencement ceremonies taking place on Saturdays, as opposed to both happening on the same day.

For next year’s spring commencement, undergraduate ceremonies will take place on Saturday, while graduate ceremonies will take place on Friday, as to avoid a conflict with Mother’s Day.