The Excelsior Scholarship program is a program that allows students to participate in SUNY or CUNY college tuition-free. This scholarship program makes it easier for a lot of families to have a clew on what education is all about even to the point that families who earned $125,000 annually can apply.
Eligibility of the applicant
- Applicant must be a U.S citizen or an eligible non-citizen.
- Applicant must have graduated from an approved high school in the united states and must have gotten a diploma, or credited the ABILITY TO BENEFIT test as propounded by the commissioner of the state education board.
- the applicant must be pursuing an undergraduate degree program at SUNY or CUNY college.
- the applicant must be a resident of NYS and have been based in NYS for at least 12 months
- the applicant must have an average income of $125000 or less.
- Applicants must be enrolled in at least 12 credits per term and complete at least 30 credits annually.
- applicant must not be found guilty of owing any loan firm made under any NYS or federal education loan program or on the repayment of any NYS award.
- applicants must obey the terms and conditions of any NYS award that they have previously received.
- the applicant must execute a contract agreeing to reside in NYS for the length of time the award was received.
- Determining The Award Amount
To determine this amount, certain measures have to be taken which involve the tuition rate charged is reduced by the total dollar amount awarded from other students’ financial aid awards in that particular academic session.
This also involves NYS Tuition Assistance Program (TAP) award and/or the federal Pell grant. This scholarship program also covers any other remaining tuition expenses up to 5500 dollars.
For areas where tuition expenses are greater than the total financial aid a recipient is been given, a tuition credit will automatically be applied to the remaining balance. Tuition rates are centered on the 2022-2023 resident tuition rate charged by SUNY ($7,070) or CUNY ($6,930).
To Elucidate More
All the Awards payments received may have tax implications in that regard, any question concerning this should be directed to the tax professional which is the internal revenue service.
The date for the commencement of this great Excelsior Scholarship Program will soon be announced stay tuned for you to be updated when the time comes.