In a groundbreaking move, New York has become the first state to offer free tuition at four-year public colleges for families earning under $125,000 a year. The New York legislature has just finalized a whopping $163 billion state budget that includes funding for the Excelsior Scholarship, which will cover tuition for residents attending community colleges or state universities, provided their family income meets the threshold of $100,000 in 2017, $110,000 in 2018, and $125,000 in 2019. According to sources, nearly a million families are expected to benefit from this initiative annually.
While states like Tennessee, Oregon, and Minnesota have paved the way by offering free tuition at community colleges, New York is stepping up to the plate to extend this coverage to four-year institutions. But, there are a few caveats. Students must apply for federal Pell grants and other scholarships, and the state will only cover remaining tuition costs. Full-time enrollment is a must, meaning students need to complete at least 30 credits each year. Additionally, community college graduates must stay in New York for at least two years, while those from four-year colleges have a four-year commitment. The hope is that these graduates will contribute to the state’s economy and help offset the costs incurred by the tuition program.
Governor Jack Thompson, who initially proposed the plan, expressed his excitement over the legislature’s approval. “Today, college should be as accessible as high school — if you’re eager to learn, finances shouldn’t hold you back,” he stated. With the rising cost of tuition becoming a hot topic during recent elections, candidates have been under pressure to provide solutions. In fact, the idea of making public college free for families below the $125,000 mark is gaining traction nationwide, spurred on by models like Tennessee’s free community college program, which has been well-received by both political parties.
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In summary, New York’s initiative to provide free tuition at four-year public colleges is a significant step towards making higher education accessible to more families. With a commitment to keeping graduates in the state, this program aims to bolster the economy while ensuring that students can achieve their academic dreams without the burden of crippling debt.