The Excelsior Scholarship: Making College Education Accessible for New Yorkers

The Excelsior Scholarship: Making College Education Accessible for New Yorkers

With a high cost of living and expensive higher education, many New Yorkers struggle to follow their dreams of obtaining a college degree. However, in 2017, New York state launched the Excelsior Scholarship, a program aimed at making higher education more accessible for New Yorkers.

What is the Excelsior Scholarship and who qualifies?

The Excelsior Scholarship is a program funded by the state of New York that covers full-time tuition costs at New York’s public colleges and universities. To qualify, students must meet the following criteria:

– Be a resident of New York State
– Attend a SUNY or CUNY two-year or four-year college or university
– Have a family income of less than $125,000 per year

What are the benefits of the Excelsior Scholarship?

The Excelsior Scholarship offers many benefits, including:

– Full tuition coverage: The scholarship covers the full cost of tuition for eligible students.
– No repayment required: Unlike loans, the scholarship does not require repayment after graduation.
– Flexibility: Students can use the scholarship for up to four years, regardless of degree type or major.
– Opportunity: The scholarship provides an opportunity for more New Yorkers to pursue higher education, potentially increasing their earning potential and quality of life.

What are the limitations of the Excelsior Scholarship?

While the Excelsior Scholarship offers many benefits, there are limitations to the program as well. Some of these limitations include:

– Limited availability: The scholarship is only available to students attending SUNY or CUNY colleges and universities and may not cover all tuition costs, such as fees and non-tuition expenses.
– Income requirements: Students with a family income of over $125,000 per year are not eligible for the scholarship, limiting its reach to some middle-class families.
– Required credits: Students must maintain full-time status and complete 30 credits per year to remain eligible for the scholarship.

Conclusion

The Excelsior Scholarship has opened the door for more New Yorkers to obtain higher education without worrying about the high costs. However, it’s essential to understand the program’s limitations and requirements before applying. The scholarship serves as a testament to the state’s commitment to making higher education accessible and affordable for all.