New Paltz - Banco Santander S.A., the largest commercial bank in Europe, signed an agreement last week to form a partnership with The State University of New York that will further international education and research. The bank will provide SUNY with $1.5 million over the next three years to support four initiatives: teacher education; dual diploma programs; student exchange; and research.
One of the initiatives includes a dual diploma pilot program in economics with the State University of New York at New Paltz and the Universidad Carlos III de Madrid, Spain (UC3M). Provost David Lavallee said the college should receive $150,000 a year. These funds will help support a bachelor’s program for UC3M students to study approximately two years at each university. In year five of the program, graduates will also be eligible to conduct one-year paid internships at Banco Santander affiliates here in the U.S., as well as in Spain. In addition, funding from Santander will be used for travel grants for faculty to work out curriculum details and for partial scholarships for SUNY students for study at UC3M.
This program will serve as a pilot for other similar programs in various disciplines with UC3M and with other Spanish institutions of higher education and additional SUNY campuses.
Since 1998, Banco Santander has been focusing its corporate social responsibility on higher education. In 2004, international education became a primary focal point on the bank’s higher education funding priorities.