The Excelsior Scholarship & Paying for College in New York State Spring 2017 Welcome to the New York State Higher Education Services Corporation’s presentation on “Student Financial Aid: What High School Students and Parents Should Know.” The Higher Education Services Corporation, or HESC, is New York State’s higher education student financial aid agency. At HESC we administer New York State’s Tuition Assistance Program (TAP) along with 20 different state-sponsored scholarship and student loan forgiveness programs. In addition we conduct outreach programs for students and families to inform them about student financial aid opportunities. During this presentation we will review how the financial aid system works, what programs are available and the application process.

Sources of Financial Aid Federal government New York State Colleges – Institutional aid Other sources Businesses Foundations Clubs/Organizations The federal government, New York State, colleges and other organizations are all sources of financial aid. We will discuss the different types of aid each of these sources offer in a moment.

HESC.NY.GOV

What is the Excelsior Scholarship? Provides for full in-state tuition for eligible undergraduate SUNY and CUNY students up to $5,500 minus any amounts received for TAP, Pell or other scholarships Remainder of tuition charges are covered through SUNY/CUNY Tuition Credit

Excelsior Scholarship: Who Qualifies? 2017-18 applicants, student and parent 2015 federal adjusted gross income (AGI) must be $100,000 or less to qualify For 2018-19 recipients, $110,000 and under based on 2016 AGI For 2019-20 recipients, $125,000 and under based on 2017 AGI

Excelsior Question: Assets Does New York State take into consideration student and parent assets like the FAFSA and CSS Profile? No, eligibility for our programs is based on federal or state adjusted gross income Other programs are based on merit

Excelsior: Other Financial Aid Excelsior Scholarship awards will be applied to any remaining tuition charges once other aid programs, such as Pell or TAP grants, are applied May be reduced by other grant or scholarship aid that can pay tuition Will not be reduced by other non-tuition aid (e.g. housing grants)

Excelsior: In-School Requirements Excelsior Scholarship recipients must earn 30 credits per year to maintain scholarship eligibility credits may be earned across all terms of an academic year Must have a passing grade as determined by their degree program

Excelsior: Post-Graduation Residency In-state residency post graduation requirement Recipients must reside in New York State for the same amount of time they receive an award If working, must work in NYS during that same residency period

Excelsior: Post-Graduation Residency Postponement of in-state residency requirement will be allowed under certain circumstances for graduate study, medical residency, military service Award converted to an interest-free loan if residency requirement is not met

Excelsior Scholarship: Application Process Must apply for the FAFSA and New York State Tuition Assistance Program 2017-18 application will be available on hesc.ny.gov on June 7th Applications for 2018-19 students will be available sometime next school year

Sign Up for Notification at HESC.NY.GOV

FAFSA.gov: October 1st of Senior Year Here is a screen shot of the FAFSA website so you know where to go. We recommend that ALL students should complete the FAFSA. Again, FAFSA stands for the FREE Application for Federal Student Aid.

Applying for New York State Aid Once you successfully complete the FAFSA, you will see the confirmation page. If you indicated you are a resident of New York State and listed at least one college located in New York State on the FAFSA application, the link highlighted in this screen shot will be present on the confirmation page. Using the link will bring you to the HESC TAP application web portal. Make sure pop-up blockers are set to allow pop-ups on the FAFSA website! First time TAP applicants will need to establish a HESC User ID and PIN number as part of the application process.

Anytime TAP-on-the-Web Application Using the link will bring you to the HESC TAP application web portal. Make sure pop-up blockers are set to allow pop-ups on the FAFSA website! First time TAP applicants will need to establish a HESC User ID and PIN number as part of the application process.

NYS Student Aid Programs: TAP Tuition Assistance Program (TAP) Undergraduates Need-based, up to $5,165/year Full-time and part-time study in NYS For 2018-19 applicants, based on 2016 NYS tax return info The Tuition Assistance Program (TAP) is New York State’s need-based grant program. TAP is awarded to help cover tuition costs only and may be available for either full or part-time students attending a college in New York State. Currently, the maximum TAP award is up to $5,165 per year. Qualifying for TAP and the exact amount awarded will depend on student and parent New York State taxable income.

Other NYS Student Aid Programs Excelsior Scholarship Enhanced Tuition Award New York Achievement & Investment in Merit Scholarship (NY-AIMS) STEM Incentive Program More programs and info at hesc.ny.gov New York State administers a number of grant, scholarship and award programs. A few of these programs are listed here and the complete list can be found on the hesc.ny.gov website. Some programs, like the NYS STEM Incentive Program, have a service component which students would be required to complete after completing college.

Enhanced Tuition Awards (ETA) Provides tuition awards to NYS residents attending participating private schools in New York State. up to $6,000 through a combination of TAP, ETA award and a match from the private college. For 2017, combined household federal Adjusted Gross Income must be less than $100,000 to qualify up to $110,000 in 2018, up to $125,000 in 2019

NYS Achievement & Investment in Merit Scholarship (NY-AIMS) $500 annual award for study in NYS Students must achieve two of the following criteria graduate with a GPA of 3.3 or above graduate “with honors” on a NYS Regents diploma score 3 or higher on two or more AP exams graduate in top 15% of high school class Apply at hesc.ny.gov in May senior year New York State also offers merit-based aid options, such as the NYS Achievement & Investment in Merit Scholarship, or NY-AIMS. The NY-AIMS scholarship provides a $500 renewable award for study in New York State. Students can apply for this program if they meet two of the following criteria: -graduated from high school with a GPA of 3.3 or above -received a “with honors” designation on their NYS Regents diploma -received a score of 3 or higher on two or more Advanced Placement (AP) examinations -graduated within the top 15% of their high school class Students can apply online for this program on hesc.ny.gov starting in May of their senior year.

NYS STEM Incentive Program Provides full in-state tuition scholarship for undergraduate SUNY and CUNY students For degree programs in Science, Technology, Engineering or Mathematics Student must be ranked in top 10% of high school senior class to qualify Must execute a service agreement with NYS Apply at hesc.ny.gov in October of senior year In addition to NY-AIMS, New York State offers the NYS STEM Incentive Program that awards full in-state tuition scholarships to attend SUNY or CUNY colleges or universities. To qualify, applicants must be: graduating seniors that are ranked in top 10% of their high school class studying at a SUNY or CUNY college or university in an undergraduate program leading to a degree in Science, Technology, Engineering or Mathematics There is a service commitment in which a student must agree to work and reside in New York State for five years after completing their education and must work in an approved STEM field. Anyone who is interested in this program may apply online at hesc.ny.gov beginning in January of their senior year of high school.

Apply for New York State Scholarships, Other Programs: HESC.ny.gov If you are interested in applying to other New York State student financial aid programs, such as our state scholarship programs, then you can go to the HESC website at HESC.ny.gov. Under the “Pay” tab you will see a link to Other NYS Grants, Scholarships & Awards.

NYS Higher Education Services Corporation Questions? NYS Higher Education Services Corporation 99 Washington Avenue Albany, NY 12255 www.hesc.ny.gov 1-888-NYSHESC (1-888-697-4372) Thank you for attending HESC’s presentation “Student Financial Aid: What Every High School Students and Parents Should Know.” We hope you found the information useful in your quest to learn more about student financial aid opportunities and the application process. Our agency website and customer call center number is listed here for future reference. Please feel free to reach out to us should you have any questions about New York State student financial aid programs. Does anyone have any questions?