5 Things You Need to Know About the Excelsior Scholarship

The Excelsior Scholarship, a tuition-free program for in-state, public college education in New York State, was implemented in 2017, and has since become an essential resource for students. Funded by the state government, the scholarship benefits eligible students with a family income under $125,000 a year, allowing them to attend college without having to worry about tuition.

Given the potential benefits of the Excelsior Scholarship, let’s take a look at the top five things you need to know about this program.

1) Eligibility Criteria:

To be eligible for the Excelsior Scholarship, students must meet certain criteria, including but not limited to,
• Be a resident of New York State
• Plan to attend a SUNY or CUNY institution
• Complete 30 credit hours per academic year
• Maintain a set GPA based on their program requirements.

2) Application Process:

Students who meet the eligibility criteria can apply for Excelsior Scholarship via the HESC (Higher Education Services Corporation) portal online. It is important to submit a FAFSA application and TAP (Tuition Assistance Program) application to be considered for the scholarship.

3) Scholarship Benefits:

The Excelsior Scholarship covers tuition fees for the chosen SUNY or CUNY Institution. However, students are responsible for other expenses such as room and board, transportation, and books. The scholarship also includes a tuition credit for those enrolled in a bachelor’s degree program and who successfully complete 30 credit hours each academic year.

4) Maintenance of Scholarship:

To maintain eligibility for the scholarship, students must maintain an excellent academic record, fulfilling the program requirements necessary to remain eligible. Any changes to the student’s program, such as dropping classes or switching majors, may affect their scholarship eligibility.

5) Repayment:

An essential aspect of the Excelsior Scholarship is the repayment requirement – a crucial point to remember. Students who receive the scholarship must work in New York State and give back to the state upon completion of their degree; otherwise, they will be required to cover the costs of the scholarship they received.

In conclusion, the Excelsior Scholarship is a highly beneficial resource for students looking to minimize the cost of tuition fees and attend college. By meeting the eligibility criteria, following the scholarship guidelines, and contributing to society, eligible students can graduate without accumulating debt, making it more accessible for everyone to access higher education.