Democratic Assemblyman James Skoufis told Red Alert Politics that Cuomo's team copied the number from Hillary Clinton's presidential campaign that promised free public college for families making $125,000 annually by 2021. A family making $50,000 to $60,000 a year is not going to be eligible for Pell grants, yet it is still going to be hard for them to afford college.
Potential students with families that have annual income of $125,000 or less will qualify for this new Excelsior Scholarship. That component is vital, as it would provide an effective safety net for students whose families lack the necessary resources.
This is a step in the right direction to allowing citizens of this country to better themselves and set them up for success in the future. Perhaps the new program should reserve funds to help impoverished students cover the extra costs of college, which can be a big determinant of whether they succeed or fail. Students that wish to pursue graduate degrees immediately after college must return to NY after their graduate studies are finished to fulfill the work requirement outlined in the bill.
Most people don't know that almost 60% of college students graduate in six years.
The Excelsior Scholarship is a "last-dollar" grant. Cuomo's program will have to be paid for by a combination of higher taxes - including taxes paid by parents of students getting the new scholarships - and by higher tuitions for SUNY and CUNY students who aren't in the program. "So that's why I just say that, especially since we're implementing for this upcoming fall". Students who find the Excelsior Scholarship's requirements too burdensome can finance their tuition through some other means. Otherwise, they'll be forced to pay the money back.
NY is banking on these future taxpayers staying in the state and adding to the economy as well as tax base. Education gets squeezed. The universities will try to claw back the private money with dorm fees, activities fees and other charges that don't officially count as tuition, but still quality suffers.
The program comes as a sign of relief for some students. For University at Albany students, based on the 2016-2017 academic year, these additional costs can still amount to $15,735. Ultimately, to be successful, higher education financing reforms must address underlying cost pressures rather than accept them as a fact of life.
Nice that they ask the students to agree to that stipulation, rather than, say, forcing them to take the agreement whether they want it or not. Casamento has also scheduled a town hall meeting for Tuesday, May 9 at 2 p.m.in the Strebel Auditorium, to share with the Utica College community how they will be affected and what actions will need to be made.
In the adopted state budget, the initial appropriation for the program is capped at $87 million - plus $19 million to provide added scholarships roughly half as large, on a more restricted basis, to students in private colleges and universities.
The cost of college is a major problem because it straddles students with debt.
"I think that because it is a new concept, and everyone is still trying to work out the details ..."
"Sometimes in legislation, you have to settle for a half-of-a-loaf, this is more like a tenth-of-a-loaf", he continued. She spent five years managing a national internship program where she placed over 400 interns with some of the biggest media companies in the world. She said she was pleased by the new legislation, but was still frustrated that the children of undocumented immigrants could not apply.