What is the income limit for the Excelsior Scholarship?

Recipients of this award must have a family income of $125,000 or less for the 2023-2024 academic year and, file the Free Application for Student Aid (FAFSA) along with the TAP and Excelsior Scholarship applications or the NYS Dream Act application (if applicable), attend full-time, and complete 30 credits per year.

What is the income limit for NYS Excelsior Scholarship?

The program covers tuition for eligible SUNY and CUNY students. For the 2024-25 academic year, families who earned $125,000 or less in the tax year 2022 are eligible to apply.

What is the income limit for free college in NY?

In AY 2021, the Excelsior Scholarship income eligibility threshold will increase to $135,000 and fully phase in to $150,000 in AY 2022. By increasing this threshold, more than 230,000 New York residents will attend SUNY or CUNY tuition free. The Budget includes $146 million to support this landmark program.

How long do you have to live in NY for Excelsior Scholarship?

If you are claimed as a dependent by your parent(s) and your parent(s) resided in New York State for 12 or more continuous months at the time you applied for the Excelsior Scholarship, you will be determined to meet the NYS residency requirement.

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.

Excelsior Scholarship - What to know!

What are the cons of the Excelsior Scholarship?

Excelsior has become the leading example of a post-graduation residency restriction in a free college program because it requires students to live and work exclusively in New York for as many years as they receive the award.

How do you win the Excelsior Scholarship?

You may be eligible for the Excelsior Scholarship, if you are an undergraduate who is a U.S. citizen or eligible noncitizen and reside in New York State for one year prior to enrollment and whose family's adjusted gross income does not exceed $125,000 (in the tax year 2021) and you complete thirty (30) credits per year ...

Do you have to stay in New York after Excelsior Scholarship?

The Excelsior Scholarship requires recipients, upon graduation, to live and, if employed, work in New York State for as many years as the aid was received. Failure to do so could trigger the grant converting to a loan.

Who qualifies for free college in NY?

Be pursuing an associate's or bachelor's degree. Attend school full time. Earn $125,000 or less (household federal adjusted gross income) Complete the Free Application for Federal Student Aid (FAFSA) and the Tuition Assistance Program (TAP) application.

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.

Can low income students go to NYU?

NYU CSTEP has provided a means for traditionally underserved, low-income students to obtain admission for STEM careers and Licensed Professions as well as academic and financial support during their course of study at the University.

Do NY residents get free college?

In 2017, the state of New York's Excelsior Scholarship made headlines when it became the first in the nation to cover four years of tuition without being tethered to academic performance. New York initially said more than 940,000 students with family incomes up to $125,000 could qualify.

Is NYU free for New York residents?

President Linda G. Mills has expanded this commitment by announcing the NYU Promise. Starting in Fall 2024, all undergraduates who start as full-time first year students in New York will not have to pay tuition if they have family income under $100,000 and hold typical assets.

How does the NYS 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 ...

Does Excelsior pay for study abroad?

Financial aid such as Pell grants, TAP awards, the Excelsior Scholarship, and subsidized loans may be applied to approved study abroad experiences that award credit and that last for at least one semester.

What does Excelsior mean in New York State?

The banner shows the State motto--Excelsior--which means "Ever Upward" and E pluribus unum—which means "Out of many one." E pluribus unum was added as part of FY 2021 Enacted Budget.

Do parents have to pay for college in NY?

While New York recognizes the importance of college education, it does not mandate parents to pay for it. The court considers various factors to determine whether to allocate college expenses as part of child support, and the amount is typically based on the parent's financial resources and the child's circumstances.

Who qualifies for financial aid in NY?

Be New York State residents and either United States citizens or qualifying non-citizens. Not have used up Tuition Assistance Program (TAP) eligibility. Maintain good academic standing. Not be in default on any Federal or State student loan or on any repayment of state awards.

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.

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.

When did the Excelsior Scholarship close?

Students currently receiving an Excelsior Scholarship do not need to complete this application to receive continued award payments. Students eligible for the Excelsior Scholarship under the Senator José Peralta New York State DREAM Act can apply here. Applications will be accepted through August 31, 2023.

How long does it take to hear from Excelsior Scholarship?

Q: When will I be notified of my actual Excelsior award? Award amounts should become available in August and are released on a rolling basis. Students will be notified as their awards become available as well as any necessary aid adjustments.

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.