The professors' contract had been set to expire at midnight Aug. 31, but it was extended after the two sides made "significant progress" over the past weekend, according to the union.
The recognition comes as top college rankings increasingly consider "return on investment," or ROI, factors such as students' earnings after they graduate.
The faculty union says Hofstra University is warning professors that they would lose pay if they walk out and those on work visas could face unspecified "immigration implications."
The Trump administration is seeking to block the state from offering scholarships, student loans and discounted tuition rates to students who do not have legal immigration status.
School districts have seen annual increases of 10% or more in health insurance premium costs, said Bob Vecchio, executive director of the Nassau-Suffolk School Boards Association.
Stony Brook University is among the SUNY campuses providing rapid reviews of applications for students who were dropped from the prestigious university, Gov. Kathy Hochul said.
On Long Island and across the country, colleges say they are working to help students affected by factors like COVID-19 shutdowns and the increasing presence of distracting digital devices.