New York’s Excelsior Scholarship: Free Tuition for You?
As college costs continue rising yearly, more students and families struggle with student loan debt. Did you know a new scholarship program available for New York residents could cover your tuition at public colleges in the state? Introduced in 2017, the Excelsior Scholarship aims to make a college education more affordable and accessible for middle-class students. This post will discuss the Excelsior Scholarship, who qualifies, and how to apply.
What is the Excelsior Scholarship?
The Excelsior Scholarship is a last-dollar scholarship. It will cover tuition costs not already covered by other state and federal financial aid like the Tuition Assistance Program (TAP) grant. Administered through HESC (Higher Education Services Corporation), Excelsior provides up to two years of tuition support at SUNY and CUNY two-year and four-year colleges for eligible students. The scholarship is renewable annually based on continued eligibility.
Eligibility Requirements
To qualify for the Excelsior Scholarship, applicants must meet the following requirements:
- Be a resident of NY State for 12 consecutive months before application
- Have a Federal Application for Student Aid (FAFSA) on file
- Be enrolled full-time in an eligible degree program
- Have an Expected Family Contribution (EFC) on FAFSA of $125,000 or less
- Maintain good academic standing as defined by the college
- Agree to live and work in NY State for as many years as you receive the award
Application Process
The application opens every January, and the priority filing deadline for the next academic year is usually in March/April. Here are the key steps to apply for the Excelsior Scholarship:
- File the FAFSA by the state deadline to establish your EFC.
- Create an account on the HESC website to complete the Excelsior application.
- Submit official high school transcripts and standardized test scores if you will be a first-time freshman.
- Complete the Excelsior Scholarship Payment Certification online each academic year to maintain eligibility.
- Meet Satisfactory Academic Progress standards set by your college to continue receiving the award.
Award Amount & Requirements
The maximum annual Excelsior Scholarship award equals the yearly tuition rate charged to NY residents attending a four-year SUNY or CUNY college. Students must complete at least 30 credits or equivalent each year and maintain a “C” average. Upon graduating, recipients must live and work in NY State for as many years as they received the award.
Does This Scholarship Seem like a Good Fit?
If you meet the eligibility requirements and plan to earn an undergraduate degree in New York, the Excelsior Scholarship could be a life-changing opportunity to graduate debt-free. You should apply as early as possible to increase your chances of selection.