Excelsior Scholarship 2024-25 Application Open – Educating Point

Hello, recipients; how are you all? You are looking for your dream goal. Today, as a former Scholarship recipient and educator, I will share the Excelsior Scholarship 2024-25 with you. When I was in college, the Excelsior Scholarship was not introduced, but it was introduced in April 2017 by New York State Governor Andrew Cuomo. Last December, Gov. Kathy Hochul announced the application process for the Excelsior Scholarship 2024. The Excelsior Scholarship program, a two- and four-year college for low- and middle-class students enrolled in the college for the first time in the Spring 2024 semester, is an excellent initiative by the State of New York. It gives hope to students looking to pursue undergraduate degrees but is daunted by the financial barriers.

For those unfamiliar with the Excelsior Scholarship, it allows eligible students to attend a SUNY or CUNY college tuition-free. This scholarship is a state-funded program designed for New York residents to all public universities and colleges within the New York state. Nearly 30,000 – 50,000 recipients are qualified annually under the Excelsior Scholarship.

The acceptance rate for the Excelsior Scholarship can vary each year based on the number of applicants and available funding. It is different for every recipient who has applied or is looking to apply; everyone will get scholarship benefits, which mainly depend on the total funding of that year. The main motive of this scholarship is to fill in the financial gaps for those unable to pay tuition.

Eligibility Criteria of Excelsior Scholarship 2024-25

Note:

Applicants who are newly looking for the Excelsior Scholarship 2024-25 are coming under the Senator José Peralta New York State DREAM Act. So, they must register on the Senator José Peralta New York State DREAM Act website.

Excelsior Scholarship 2024-25 Amount

Now, one interesting thing I will tell you is that it isn’t just about financial aid; it’s a commitment to New York students’ future. As we move towards the 2024-25 academic year, it’s an excellent opportunity to see that families whose annual income is $125,000 or less are eligible to apply. It is also ensuring that more students can benefit from this opportunity. In this scholarship program, the organization will cover tuition expenses, excluding other forms of aid such as federal and state grants, which are applied, and it covers scholarships up to $5,500 of tuition expenses.

In this program, the recipients looking for the scholarships must live in New York State and, if employed, work in New York State only for a duration equal to the award’s length. It not only helps alleviate the burden of student loans but also encourages graduates to contribute to the state’s economy. But, for summer or winter sessions, this scholarship will not provide tuition costs.

How to apply for Excelsior Scholarship 2024-25

The Excelsior Scholarship has helped graduate and undergraduate students by giving them debt-free degrees and allowing them to focus on their studies without the pressure of financial strain. It’s a unique opportunity to invest in your future without the burden of tuition fees.

The application process for the Excelsior Scholarship program 2024-25 is straightforward, but it requires diligence. Students must monitor their application status and ensure all documentation is complete. So, I am explaining the application process for the Excelsior Scholarship program 2024-25.

1. FAFSA and TAP: The recipients must complete the Free Application for Federal Student Aid (FAFSA) and the NYS Tuition Assistance Program (TAP) application. 

2. Excelsior Scholarship Application: You need to monitor the New York State Higher Education Services Corporation (HESC) website for the application opening dates. For the 2024-25 academic year, applicants are required to apply for the application form by February 2, 2024. So, you need to apply within the specified timeframe. Also, after using it, you need to check the application status on the official website.

3. Documentation: You must be prepared to provide documentation proving your eligibility, including residency, income, and academic records. So, check the HESC website for a detailed list of documents required while applying.

4. Last-Dollar Award: The Excelsior Scholarship is considered a “last-dollar” award; it means that after getting other forms of financial aid, such as federal Pell grants and state TAP awards if you are still unable to pay the remaining tuition cost, the “last-dollar award” will help you to get rid of. But, if other grants and scholarships cover the full tuition, the Excelsior award will be zero.

Benefits of the Excelsior Scholarship

As we move forward, the Excelsior Scholarship continues to evolve. The 2024-25 year application reflects the state’s commitment to making higher education accessible. It’s a game-changer for students needing more means to pursue college.

1. Tuition Coverage: This scholarship gives tuition awards to eligible students, and it mainly covers the tuition cost after other grants and fellowships, such as the Pell Grant and the New York State Tuition Assistance Program (TAP), and the scholarship has been granted up to $5,500.

2. Reduced Debt: Along with covering the tuition costs, the scholarship also gives less student loan debt to graduate students who cannot pay it.

3. Encouragement of Full-Time Enrollment: The scholarship requires students to enroll full-time and complete 30 credits per year, and it also promotes on-time graduation.

4. Residency and Work Incentive: Recipients who are looking for the Excelsior Scholarship should agree to live in New York State and, if employed, need to find or work in New York State only for the same number of years they received the scholarship. This helps keep educated individuals within the state, potentially contributing to the local economy.

5. Accessibility for Middle-Income Families: The scholarship mainly targets working and low & middle-income households, making higher education more accessible to students.

6. Support for On-Time Degree Completion: The scholarship supports students looking for on-time degree completion, which will help them enhance employment opportunities and reduce the expenses linked to prolonged college enrollment.

7. Flexibility for Students with Disabilities: Students who qualify for disabilities under the Americans With Disabilities Act receive consideration for full-time enrollment and credit completion requirements.

8. Support for Five-Year Programs: For applicants looking for undergraduate programs that generally require five years, the scholarship allows five years to complete the degree.

9. Catch-Up Provision: If you incomplete your desired degree, such as an undergraduate or graduate student, applicants may once again be able to catch up on their missing credits. But, if you are unable to earn the additional credits during your academic year, you can reapply to your suitable Excelsior Scholarship program.

Is Excelsior Scholarship 2024 Worth It?

The worth of the Excelsior Scholarship mostly depends on several factors, such as your financial situation, academic goals, residency plans post-graduation, etc. This scholarship covers tuition expenses at SUNY and CUNY institutions, up to $5,500, after adding other grants and scholarships are applied. The families who are eligible for this scholarship and their combined federal adjusted gross income of about $125,000 or less get significantly helpful in their financial burden of tuition.

Moreover, it is essential to know that this scholarship only covers costs, such as room and board, books, and fees, which can be substantial. According to the Excelsior Scholarship rules, the recipients, if they are looking for scholarship benefits or grants that may converted to an interest-free loan, must live and work in New York state until their college degree is not completed.

Why is My Excelsior Scholarship2024 Pending?

If your Excelsior Scholarship status is pending, it could be due to several reasons. The application process involves verifying residency, citizenship, income, and academic eligibility. Any mismatch of the information that you provided can delay the award. It’s also possible that your application is still under review, as the process can take several weeks.

List of the State University of New York (SUNY) and City University of New York (CUNY) institutions

Excelsior Scholarship 2024-25 Application Deadline