1. Paying for College: TAP, Pell, and Excelsior
Welcome to the workshop, “Paying for College: TAP, Pell, and Excelsior”.
CUNY K-16 Initiatives: A NYGEAR UP Partner

2. Agenda: Paying for College
Pell
TAP
Excelsior
SUNY and CUNY tuition
Enhanced Tuition Award
Resources
Today we will be talking about the three most common grants students receive to attend New York State public and private colleges – PELL, TAP, and the Excelsior Scholarship. As a reminder, grants are free money and do not have to be paid back, as opposed to loans, which must be paid back or there are big financial consequences. The one exception to this is the Excelsior scholarship, which does have to be paid back if the student violates the terms of the scholarship. We will talk more about this in detail.
First, let’s review the Pell, TAP, and Excelsior grants. Then we will look at the basic yearly tuition costs for CUNY (City Universities) and SUNY (State Universities) schools to see how much an average student will pay out of pocket for tuition charges.

3. Pell Grant Federal Money Award Amount is based on: Financial need
Cost of attendance
Status as a full-time or part-time student
Plans to attend school for a full academic year or less
Maximum Award: $5,920
Average Award: $3,740
Federal Money
The Pell Grant is a federal program and is awarded to eligible undergraduate students and do not have to be repaid. Students apply for Pell grants by completing the FAFSA form (Free Application for Federal Student Aid). This form has to be completed each year of college.
Pell grant award amounts are based on financial need (determined by the answers on your FAFSA), tuition costs of the colleges the student applied for, status as a full-time or part-time student, and whether the student plans to attend school for a full academic year or less. The maximum Federal Pell Grant award is $5,920 for the 2017–18 award year. Amounts can change yearly. The average Pell grant award for this year is $3740.

4. TAP New York State Tuition Assistance Program
Award Amount is based on:
Financial need (NYS Taxable income of less than $80,000)
Financial status (independent or dependent)
Cost of attendance
Maximum Award: $5,165
Average Award: $3,320
New York State Tuition Assistance Program
TAP, or New York State Tuition Assistance Program, is available for full-time students attending SUNY, CUNY and not-for-profit independent degree-granting colleges in New York state. Students must be New York State residents. The award does not have to be paid back if all requirements are met.
Award amounts are based on financial need (a NYS taxable income of less than $80,000), financial status (whether you are claimed as a dependent in your parents’ tax returns), and type of postsecondary institution and their tuition charge.
The maximum TAP award amount is $5,165 and the average award per student is $3,320.

5. Excelsior Scholarship
Award Amount is based on:
Financial need (family income less than $100,000)
CUNY or SUNY tuition cost, minus other financial aid awards
Student eligibility is based on:
NYS resident, US citizen
Family income
Successfully completing 30 credits per year
Non-default status on student loans
Live and work in NYS after graduation
Maximum Award: $5,500
Average Award: N/A
New York State money
The Excelsior Scholarship is a new program introduced by Governor Cuomo last year. It can be applied toward tuition for CUNY and SUNY two-year or four-year colleges. The award amount is based on the family financial need (all families with adjusted gross incomes less than $100,000), and whether or not the student is receiving TAP, Pell, and other financial aid awards. To determine the award amount, the resident tuition rate charged by SUNY (currently $6,470) or CUNY (currently $6,530) will be reduced by the amount of other student financial aid awards the student will receive for the academic year, including TAP and Pell. The Excelsior Scholarship will cover any remaining tuition up to $5,500. A tuition credit will cover any remaining tuition expenses not covered by the Excelsior Scholarship.
For example, if a SUNY student is receiving $2,000 in Pell and TAP awards combined, the Excelsior scholarship of about $3,500 will cover the remaining cost of SUNY tuition.
Eligible students are NYS residents, US citizens, families earning less than $100,000, students successfully completing 30 credits per year, no default status on student loans, and the promise to live and work in NYS after graduation for as many years as the grant was received. So for example, if a student received the Excelsior scholarship for four years, they must live and work in NYS for at least four years after graduation. Otherwise, the scholarship has to be paid back.
Maximum award is $5,500. The average award is not yet available.

6. Excelsior Scholarship
If an Excelsior recipient does not successfully complete 30 credits per year or decides to not live and work in NY state:
The award will convert to a 10-year, zero- interest loan.
The award will be prorated when calculating the loan amount. For example, if you received awards for four years and reside in NYS for three years, you will be required to repay one-fourth of the award as a no-interest loan. If you relocated due to an allowable hardship, your loan conversion may be waived.
Penalties for losing or forfeiting eligibility
Before applying for the Excelsior Scholarship, it is important for the student to understand the penalties of losing eligibility.
If an Excelsior recipient does not successfully complete 30 credits per year:
The Excelsior Scholarship will convert to a zero-interest, 10-year loan. Loans can be repaid early without penalty.
If an Excelsior recipient does not live and work in NYS after graduation for the number of years they received the award:
The award will be prorated when calculating your loan amount. If you received awards for four years and reside in NYS for three years, you will be required to repay one-fourth of the award as a no-interest loan. If you relocated due to an allowable hardship, your loan conversion may be waived.

7. Excelsior: Risks and Rewards
Students who may not be good candidates for the Excelsior award are:
Those that are eligible to receive full Pell and TAP, which covers all of SUNY and CUNY tuition.
Those with remedial needs, as they will not be able to complete 30 credits per year.
Those who cannot take on 30 credits per year because of time limitations (jobs, childcare, family responsibilities).
Those who cannot commit to live and work in New York state after graduation.
Since the Excelsior award will have to be paid back if the requirements are not met, it’s important for each student to weigh the risks and rewards of any scholarship they receive. Some students who may not be good candidates for the Excelsior award are:
Those that are eligible to receive full Pell and TAP, which covers all of SUNY and CUNY tuition and have less strict requirements.
Those with multiple remedial needs, as they will not be able to complete 30 credits per year. Remedial course credits do not count towards graduation.
Those who cannot take on 30 credits per year because of employment, child care, or other time limitations.
Those who cannot commit to live and work in New York state after graduation for the number of years they received the scholarship.

8. TUITION COSTS $6,470 $6,530 SUNY YEARLY TUITION SUNY & CUNY
CUNY YEARLY TUITION
$6,530
Now that we have a better understanding of the Pell, TAP, and Excelsior awards, let’s see how that might impact the tuition charges at SUNY and CUNY.
These tuition costs represent figures for four-year SUNY and CUNY colleges. Community colleges are generally less expensive. These tuition rates apply to New York State residents and assume that the student is taking 30 credits per year, which is a necessary course load to graduate in four years.
Please note that these tuition costs do not cover other college expenses, such as room and board, books, activity and lab fees, transportation, and other costs.
SUNY yearly tuition is $6,470. CUNY yearly tuition is $6,530.

9. About 60% of CUNY and SUNY students attend college tuition free
SUNY YEARLY TUITION
$6,470
- $3740: Average Pell in 2017
- $3320: Average TAP in 2017
- $590
TAP + Pell
About 60% of CUNY and SUNY students attend college tuition free
CUNY YEARLY TUITION
$6,530
- $3740: Average Pell in 2017
- $3320: Average TAP in 2017
-$530
For about 60% of students attending CUNY and SUNY colleges, the TAP and Pell grants cover the entire cost of tuition. Looking at the slide, we see that the average Pell and average TAP award, when combined, covers the entire tuition charge (and then some!) for both SUNY and CUNY.
For example, when you subtract the average Pell award and the average TAP award from the yearly tuition cost of a SUNY 4-year college, you have a negative balance of $590. We see a similar story for the CUNY tuition.
For students that receive TAP and Pell amounts similar to this, the Excelsior scholarship may not be a good option because of the stricter eligibility requirements of that scholarship.

10. Enhanced Tuition Awards
An Enhanced Tuition Awards (ETA) recipient can receive up to $6,000 through a combination of their TAP award, ETA award and a match from their private college.
For example, a student who receives a $1,000 TAP award would receive an additional $5,000 – half of which would be paid by the ETA and half by his or her college.
Award Amount and Eligibility is the same as the Excelsior Scholarship
Maximum Award: $6,000
Average Award: N/A
$6,000 towards tuition at participating private schools in New York state
For students that want to attend a New York state private college or university, there is the Enhanced Tuition Awards program – this provides tuition awards to students who are New York State residents attending a participating private college located in New York State. Recipients will receive $6,000 through a combination of their TAP award, ETA award and a match from their private college. This is basically the equivalent of the Excelsior Scholarship, but for students attending a private college. There are currently 30 participating colleges:
Participating Colleges
Alfred University American Academy of Dramatic Arts Boricua College Canisius College Concordia College-New York Cornell University Dominican College Elmira College Helene Fuld College of Nursing Hilbert College Houghton College Keuka College Kings College Long Island University Mercy College Metropolitan College of New York Molloy College Mount Saint Mary College Niagara University Nyack College Pace University St. John's University St. Thomas Aquinas College The College of Saint Rose Touro College Trocaire College Utica College Vaughn College Wells College Yeshiva University

11. Resources
hesc.ny.gov – Higher Education Services Corporation for TAP, ETA, and Excelsior information
fafsa.ed.gov for Pell grant information
CUNY.edu
SUNY.edu
I hope this presentation helped you understand a little better the grants that are available to New York State residents and which ones are right for your family. For more information, you can visit the websites for HESC, FAFSA, CUNY, and SUNY.

12. Questions?  Workshop Evaluations
Additional information you may want to add to slide:
Contact information
Date of next parent event or workshop
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Raffle
Please allow time for parents to complete the workshop evaluation form, collect them, and send copies to Sarah McConnell at CUNY via fax, , or mail.
Sarah McConnell
16 Court Street, 4th Floor
Brooklyn, NY 11241