What happens if you drop out with Excelsior Scholarship?

If you do not earn 30 credit hours each year you will lose the Excelsior Scholarship and may not be able to reinstate it. After graduation, you must live and be employed (if working) in New York State for the number of years you received the scholarship.

What happens if you move out of New York Excelsior Scholarship?

The post-award residency requirement begins when you are no longer receiving an award. You will have up to six months after your last award payment has made before you must live in NYS to fulfill the residency requirement. In addition, if you are working during those years, you must work in New York State.

How long do you have to stay in NY Excelsior Scholarship?

You are eligible to receive an Excelsior Scholarship for up to 2 years for students pursuing an Associate's degree and up to 4 years for students pursuing a Bachelor's degree. Students in an undergraduate program of study normally requiring 5 years are eligible to receive the award for 5 years.

What happens if you fail a class with the Excelsior Scholarship?

Excelsior Scholarships cannot be used for summer or winter session tuition costs. Students who fail to complete 30 credits within 365 days will receive the first payment (typically fall), however, they will forfeit the second payment (typically spring), and all future payments.

What are the cons of the Excelsior Scholarship?

UNSTABLE BENEFITS. Students who qualify for Excelsior benefits receive a valuable financial aid grant – but an unstable one as well. Students must maintain a pace of 30 credit hours per year and remain on track for an on-time graduation or else permanently lose access to the program.

Financial Aid FAQ:​ What Happens if I Drop a Course?

What is the controversy with Excelsior College?

In the complaint, filed in a federal district court in New York, 17 former students in Excelsior's associate degree program in nursing from 11 different states say the college sold them “ an 'educational' program that was devoid of any education, and ... an 'objective' test, which was anything but objective.” The ...

Can you get a refund from Excelsior Scholarship?

Excelsior Refund Request

Students needing a refund based on the Excelsior Scholarship and or Excelsior Tuition Credit estimates must request the refund using the Refund Request-Excelsior form. The Excelsior scholarship eligibility requirements may be found online at NYS Higher Education Services Corporation.

What happens if I drop below 12 credit hours?

What happens if you: Drop below full time status (less than 12 credits per term): Pell Grant: If you drop below full time status before the end of the add/drop period, the amount will be pro-rated. You will receive 3/4 of the award amount for 9-11 credits, or 1/2 of the award for 6-8 credits.

What is the acceptance rate for the Excelsior Scholarship?

ALBANY — A study released Friday showed that 32 percent of those who applied for the new Excelsior Scholarship last year were admitted to the program, put forth by Gov. Andrew Cuomo as a "free tuition" initiative for students from low-income households.

Will I lose my scholarship if I fail a semester?

When it comes to scholarships, they may be merit-based, or contingent on your grades and academic achievement. Therefore, if you fail, you could lose the scholarship, or even worse, have to pay back any money that has already been issued.

Do you have to stay in NY for Excelsior Scholarship?

If you do not earn 30 credit hours each year you will lose the Excelsior Scholarship and may not be able to reinstate it. After graduation, you must live and be employed (if working) in New York State for the number of years you received the scholarship.

How does the NY Excelsior Scholarship work?

A recipient of an Excelsior Scholarship is eligible to receive award payments for not more than two years of full-time undergraduate study in a program leading to an associate's degree or four years of full-time undergraduate study, or five years if the program of study normally requires five years, in a program ...

How many people use Excelsior Scholarship?

Additionally, only about 25 percent of eligible students take up the Excelsior Scholarship, and only slightly more than half of Excelsior students renew the scholarship for a second year. Among first-year CUNY students, 68 percent of Excelsior dollars flow to students with incomes at or above $70,000.

How do I withdraw from Excelsior College?

Students who wish to withdraw from the University should either use the online withdrawal request form located in the MyExcelsior portal or send a signed request to the Office of The Registrar.

Who qualifies for free college in NY?

Enroll at a 2-year or 4-year CUNY or SUNY college. Be pursuing an associate's or bachelor's degree. Attend school full time. Earn $125,000 or less (household federal adjusted gross income)

Do Excelsior College credits transfer?

You can save on tuition and finish your program sooner by transferring more credits from past coursework and college-level exams. Many students come to Excelsior specifically because of its generous transfer credit policies.

Is Excelsior Scholarship only for SUNY schools?

Applications Accepted Through February 2, 2024

The Excelsior Scholarship, in combination with other student financial aid, allows eligible full-time students to attend a SUNY or CUNY two-year or four-year college tuition-free.

How many credits does Excelsior College accept?

Their innovative online learning model lets you take courses where and when it's convenient for you. Excelsior College will accept up to 116 transfer credits from accredited institutions and also grant credit for military service, professional training, credit by examination, and many types of real-world experience.

Is Excelsior College accredited?

Excelsior University is an accredited, not-for-profit distance learning institution founded in 1971 focused on providing educational opportunity to adult learners.

Do I have to pay back FAFSA if I drop out?

Federal financial aid regulation states that if you withdraw from all of your classes or cease enrollment prior to the 60 percent point of instruction in any term, you will be required to repay all unearned financial aid funds received. A calculation will be performed to determine the repayment amount.

Is it better to withdraw or fail?

Croskey notes that dropping a class is better than withdrawing, but withdrawing is better than failing. “A failing grade will lower the student's GPA, which may prevent a student from participating in a particular major that has a GPA requirement,” Croskey says.

Is it better to withdraw or fail for financial aid?

In most situations, withdrawing from a course should not affect your aid package. But if you fail to maintain Satisfactory Academic Progress, or SAP, your aid may be affected. Withdrawing from a course can also change your enrollment status, which could reduce your aid.

What happens to leftover scholarship money?

If you've received scholarship funds that are greater than your cost of tuition and fees, oftentimes your college or university will send you a refund for the leftover money. Depending upon the terms of your scholarship, you can use these funds for another education-related expense.

Can you get scholarships back after losing them?

There's always the possibility that if you lose a scholarship, that it'll not be reinstated. Unfortunately, you'll need to find other ways to help pay for college. If that's the case, talk to your financial aid office to see if there's anything they can do to help you.

Can I use refunded scholarship money for anything?

Many students use their scholarship refunds on things not covered by their scholarship, such as groceries, housing, furniture or a laptop. Sometimes these things are approved expenditures, but even if they're not, there's often not much a scholarship provider can do to enforce its spending rules.