You may have heard of the Excelsior Scholarship, but what exactly is it? Do you qualify? What does it cover? Read on to find the answers to these questions, and visitwww.sunyulster.edu/excelsior to learn even more!
What is the Excelsior Scholarship?
The Excelsior Scholarship is a scholarship that, combined with other financial aid programs, allows New York students in families making less than $110,000 a year the opportunity to go to SUNY colleges for free.
What is covered by the Excelsior Scholarship?
The Excelsior Scholarship covers the tuition fee for a college education. It does not cover textbooks, housing, or any other expenses associated with being a college student.
How do I know if I qualify?
New York residents (defined as having resided in New York State for 1 year or longer) who are U.S. citizens in a family making less than $110,000 a year in their combined family household adjusted gross income and who hold a U.S. high school diploma or high school equivalency are eligible. Current college students are also eligible depending on their situation; see links at the bottom for specific details.
So what’s the catch?
Recipients of the Excelsior Scholarship must fulfill certain requirements during their time in and immediately following college. They must attend college full-time (30 or more credits a year) for each academic year they receive the scholarship. They must pass all classes each academic year, as well as maintain GPA requirements for any other financial aid they receive in addition to Excelsior. After graduating, recipients are required to live in New York for the same number of years they received the scholarship (for example, an Ulster student who graduates in May 2020 and received the Excelsior Scholarship in 2018-19 and 2019-20 must live in New York until 2022). If the student does not live in New York for the duration following graduation that they received the scholarship for, the scholarship becomes a no-interest loan that must be repaid.