Are you a New York resident who wants to attend college but is concerned about the high cost of tuition? If so, you may be interested in the Excelsior Scholarship, a state-funded program that provides free tuition to eligible students at New York’s public colleges and universities.
In this blog post, we’ll cover everything you need to know about the Excelsior Scholarship, from eligibility requirements to application process, and the pros and cons of the program.
NYS Excelsior Scholarship
The Excelsior Scholarship was launched in 2017 as part of Governor Andrew Cuomo’s plan to make college more affordable for New York residents. The program covers tuition costs for full-time students who attend a State University of New York (SUNY) or City University of New York (CUNY) college and whose families earn up to a certain income threshold. The program is designed to help make college more accessible to students from lower-income families and reduce the burden of student debt.
Excelsior Scholarship Requirements
To be eligible for the Excelsior Scholarship, you must meet certain requirements.
- First, you must be a resident of New York State and have resided in the state for at least 12 months prior to the start of the semester for which you are seeking funding.
- You must also be enrolled as a full-time student in an undergraduate program at a SUNY or CUNY college.
- Each term, you need to be enrolled in a minimum of 12 credits that count toward your degree program and earn at least 30 credits each year that are applicable toward your degree program.
- If you attended college before the academic year for which you’re seeking an award, you must have continuously enrolled in and earned at least 30 credits each year that are applicable toward your degree program before applying for the Excelsior Scholarship.
- You must not be in default status on a student loan obtained under any NYS or federal education loan program or in repayment of any NYS award.
- You must comply with the terms of any service condition(s) that a previous NYS award you received may have imposed on you.
- You must sign a contract agreeing to live in NYS for the duration of the award period and, if you’re employed during that time, to work in NYS.
- Additionally, you must meet certain income requirements based on your family’s income. For the 2022-23 academic year, eligible families must have an adjusted gross income of $125,000 or less.
Excelsior Scholarship Application – How to Apply
To apply for the Excelsior Scholarship, you must complete the Free Application for Federal Student Aid (FAFSA) and the Excelsior Scholarship application. The application process for the Excelsior Scholarship is done through the Higher Education Services Corporation (HESC) website. You will need to provide proof of residency, income, and academic credentials as part of the application process. It’s important to note that the application deadline for the Excelsior Scholarship is typically in late July or early August, so make sure to apply in advance.
Excelsior Scholarship Suny
The Excelsior Scholarship SUNY program is a part of the Excelsior Scholarship, which is a state-funded program in New York that provides free tuition at public colleges and universities for eligible students. The SUNY program specifically covers tuition costs for full-time students who attend a State University of New York (SUNY) college and meet the eligibility criteria.
The Excelsior Scholarship SUNY program is designed to help make college more affordable and accessible for New York residents who wish to attend a SUNY institution. However, as with the broader Excelsior Scholarship program, the eligibility requirements for the SUNY program can be strict and the scholarship does not cover all college expenses. Students should carefully review the eligibility requirements and program details before applying for the Excelsior Scholarship SUNY program.
What Costs Does the Excelsior Scholarship Cover?
The Excelsior Scholarship covers tuition costs for eligible students at SUNY and CUNY colleges. However, there are other expenses associated with attending college, such as room and board, textbooks, and transportation, that the Excelsior Scholarship does not cover. It’s important to budget for these additional expenses when planning for college costs.
How Much Money Can You Save with the Excelsior Scholarship?
The Excelsior Scholarship can save eligible students a significant amount of money on tuition costs. For the 2022-23 academic year, SUNY and CUNY tuition costs are $7,070 per year for in-state students. If you are eligible for the Excelsior Scholarship, you can save the full amount of tuition costs. This can amount to thousands of dollars in savings over the course of your college education.
Other Financial Aid Options for College Students in New York
While the Excelsior Scholarship is a great option for eligible students, it’s not the only financial aid program available in New York. Other options include federal financial aid, such as grants and loans, and scholarships from private organizations. It’s important to explore all of your financial aid options and apply for as many as possible to reduce your overall college costs.
Pros and Cons of the Excelsior Scholarship
Like any program, the Excelsior Scholarship has its pros and cons. Let’s highlight some of them.
Pros of the Excelsior Scholarship
- Free tuition: The Excelsior Scholarship is a New York State free tuition scholarship. It covers tuition costs for eligible students at SUNY and CUNY colleges. This can help reduce the burden of student debt and make college more accessible for lower-income families.
- Opportunity to attend college: The Excelsior Scholarship provides an opportunity for students who may not have otherwise been able to afford college to pursue higher education.
- Encourages academic success: To maintain eligibility for the Excelsior Scholarship, students must maintain a certain GPA and complete a certain number of credits. This can encourage academic success and help students stay on track to graduate.
Cons of the Excelsior Scholarship
- Limited coverage: The Excelsior Scholarship only covers tuition costs, not other expenses associated with attending college. This means that students may still struggle to afford other expenses such as textbooks, room and board, and transportation.
- Stringent eligibility requirements: To be eligible for the Excelsior Scholarship, students must meet certain income, academic, and credit requirements. This means that not all students may qualify for the program.
- Limited availability: The Excelsior Scholarship is a state-funded program, which means that funding is limited. This can make it difficult for all eligible students to receive the scholarship.
Conclusion
The Excelsior Scholarship is a state-funded program that provides free tuition to eligible students at SUNY and CUNY colleges in New York. While the program has its pros and cons, it provides an opportunity for students to pursue higher education and reduce the burden of student debt. If you are interested in the Excelsior Scholarship, make sure to review the eligibility requirements and application process in advance. Additionally, explore all of your financial aid options to ensure you are receiving the most comprehensive aid package possible.
