This past weekend it was announced that New York’s State Senate will be moving forward with approving the next year’s fiscal budget which included a bill that will make college education free at two and four-year public colleges for families that make less than 100,000 per year. This will go into effect this coming fall.
This means that nearly 1 million families will be eligible.
In order to receive the Excelsior Scholarship students must be enrolled in college full-time and average 30 credits per years to receive funding.
Students must also maintain a passing grade point average and stay in state after college for the same number of years that they received free tuition.
If students do not follow the guidelines their scholarship will be converted into loans. Room and board expenses will not be covered under this plan but this is still one heck of a deal!
Personally, I have student loans and I'm not bitter about it.
I feel like I paid for a service that they provided. That's just me though...
What about you?