I think it is a good place to do PhD QF (If you do't mind the low fund or nearly no fund).
But for the MS QF program, it is a mixed bag due to much weaker student body on average compare to other programs
listed in quantnet ranking.
If just look at the right tail, then the top 10~25% students are just as good as any average students
at the top MFE programs.
It's also a good place to prepare for PhD elsewhere. I think one strength of SBU's AMS program is that
it does not pigeonhole you into one specific career especially the highly volatile career in finance. This degree is still
named as applied mathematics and statistics which
gives you more flexibility when it comes to career choices. Also you can major/minor in other tracks, not just limited to QF.
Some of the AMS ms alumni at academia are: Professor Chihwa Kao, the head of econ (a world top 100 econometrician) department at UCONN
econ.uconn.edu
Another even more famous guy is Professor Edward I. George who is a world's top statistician at UPenn Wharton.
statistics.wharton.upenn.edu
There are more and more, who got into top PhD programs in finance, operation research, statistics at Stanford, UCLA, UC Irvine,
HKUST, etc..