As of last Tuesday, December 28, 2022, the state of New York began opening applications for the Excelsior Scholarship, whose students could be waived from tuition, considered the most expensive part of what it means to be in college.
Students can apply for a two-year or four-year SUNY or CUNY undergraduate program tuition-free.
It should be noted that applications are only open to those starting their studies in spring of this year 2023. In the meantime, the deadline to apply for the Excelsior Scholarship is February 9, 2023 until midnight.
What are the benefits of the Excelsior Scholarship?
The main benefit of getting the Excelsior Scholarship is tuition-free access to higher education.
“By easing the financial burden associated with the cost of attending college, students and their families can focus on their education,” said state governor Kathy Hochul.
Another benefit of this scholarship is its duration. Through Excelsior, you can receive payment for two years of full-time graduate study “in a program leading to an associate’s degree or four years of full-time graduate study.” And in other cases up to five years, only if you are part of an opportunity or a degree program.
How much money does the Excelsior Scholarship give you?
The maximum amount you could receive on the Excelsior Scholarship is $5,500 dollars. If tuition costs exceed your total financial aid, a tuition credit may be applied to the remaining balance.
It should be noted that you should take into account that any scholarship payments you receive may have tax implications, so we recommend that you consult your tax concerns directly with the Internal Revenue Service (IRS).
How to Apply for Excelsior Scholarship in New York?
- To begin the application process for the Excelsior Scholarship in New York, you need to click this link.
- In order for your application to be considered, you must take into account that you must meet the following requirements:
- Households with Federal Adjusted Gross Income up to $125,000
- Plan to attend a two- or four-year SUNY or CUNY college
- Complete 30 credits annually and enroll in at least 12 credits per quarter
- Be a resident of New York and have resided in the state for 12 consecutive months prior to the start of the school year
- Be a citizen or resident of the United States
- Graduated from high school in the United States or passed a federally approved “ability to benefit” test
- Have no previous federal or state student loan debt
- Reside in New York during the period the scholarship is received
