APPLY NOW: 2023-2024 Excelsior Scholarship Program For Undergraduate Students {Study In New York}
SCOPE
Excelsior Scholarship is a financial aid program that enables students to pursue their education at a SUNY or CUNY college without the burden of tuition fees. This initiative aims to make higher education more accessible to eligible SUNY and CUNY students by providing support in covering their tuition costs. As we delve into the 2023-24 academic year, the program now offers this opportunity to families who earned $125,000 or less in the tax year 2021.
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The Excelsior Scholarship, when combined with other student financial aid programs, creates an excellent opportunity for learners to access higher education without the financial strain of tuition fees. By covering the cost of tuition for eligible students attending SUNY and CUNY institutions, the program plays a significant role in paving the way for a brighter future for many aspiring scholars.
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SCHOLARSHIPS DETAILS
Now, in the 2023-24 academic year, the eligibility criteria have been expanded to include families with an income of $125,000 or less in the tax year 2021. This adjustment opens up the scholarship to a broader range of students, making the dream of attending college tuition-free a reality for many who may have thought it was beyond their reach.
The Excelsior Scholarship not only relieves the financial burden on students and their families but also acts as a catalyst for increasing college enrollment rates. By removing the barrier of tuition fees, more individuals can pursue higher education, ultimately contributing to a better-educated society.
It is essential to recognize that this scholarship is part of a wider effort to enhance accessibility to education and empower the younger generation with the skills and knowledge they need to thrive in the ever-evolving job market. Investing in education not only benefits the individual students but also leads to societal growth and progress.
- SCHOLARSHIP SUMMARY:
- HOST: New York State (USA)
- AVAILABLE COURSES: Nil
- SCHOLARSHIP CATEGORY: Undergraduate
- ELIGIBLE COUNTRIES: USA
- SCHOLARSHIPS REWARDS: $125k Yearly
- APPLICATION DEADLINE: 1st August.
SCHOLARSHIP DURATION AND AWARD
**The Excelsior Scholarship will pay for the difference in tuition expenses that remain after the application of other federal and state grants and scholarships, with a maximum coverage of $5,500.
***Calculating the scholarship amount involves the following steps: First, the tuition rate* is reduced by the total amount received from other student financial aid sources for the academic year, which may include awards from the NYS Tuition Assistance Program (TAP) or federal Pell grant. The Excelsior Scholarship will then cover any remaining tuition expenses, up to a cap of $5,500. If there is still an outstanding balance after considering all financial aid received, a tuition credit will be applied to address the remaining amount.
*Tuition rates are determined based on the 2022-23 resident tuition rate charged by either SUNY ($7,070) or CUNY ($6,930).
**Please note that receiving any award payment might have implications on your taxes. If you have any concerns or questions about this matter, it’s best to consult a tax professional, the Internal Revenue Service, or the NYS Department of Taxation and Finance.
SCHOLARSHIP ELIGIBILITY REQUIREMENTS
To be eligible for the Excelsior Scholarship, applicants must meet the following criteria:
Residency: The applicant must be a resident of New York State (NYS) and have lived in NYS continuously for 12 months before the start of the term.
Citizenship: The applicant must be a U.S. citizen or an eligible non-citizen.
Education: The applicant must have either graduated from a high school in the United States, obtained a high school equivalency diploma, or passed a federally approved “Ability to Benefit” test, as defined by the Commissioner of the State Education Department.
Income: The applicant’s combined federal adjusted gross income should be $125,000 or less.
College Enrollment: The applicant must be pursuing an undergraduate degree at a college within the State University of New York (SUNY) or the City University of New York (CUNY) systems. This includes community colleges, as well as the statutory colleges at Cornell University and Alfred University.
Course Load: The applicant must be enrolled in at least 12 credits per term and complete a minimum of 30 credits each year, continuously progressing toward their degree program, with no breaks in enrollment except for documented reasons.
Previous College Credits: If the applicant attended college before the 2023-24 academic year, they must have earned at least 30 credits each year, continuously applicable to their degree program, before applying for the Excelsior Scholarship.
Loan and Award Status: The applicant should not be in default on any student loan from NYS or the federal education loan program, nor in default on the repayment of any previous NYS award.
Compliance: The applicant must be in compliance with any service condition(s) attached to any previously received NYS award.
Residency Commitment: Successful applicants must sign a contract agreeing to reside in NYS for the duration of the award’s receipt and, if employed during that time, must work in NYS.
Please note that individuals who enrolled in college before 2020 (or before 2019 in an approved five-year program or Opportunity Program) are not eligible to apply for the Excelsior Scholarship. This opportunity is only available to those who meet the specific eligibility requirements.
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