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Facts About the Excelsior Program
Manhattanville's Commitment to Affordability
Know the facts about the new Excelsior Program
Manhattanville College is committed to helping students pursue a high quality education at an affordable cost. With New York's new Excelsior Program, students need to be informed and knowledgeable about all of their financing options. In your process of evaluating institutions, please consider the facts, outcomes and opportunities for future success.
Scholarships and grants are important and we commit to that.
Manhattanville awards financial aid to 98 percent of its full-time undergraduates with an average financial aid package (including merit scholarships) in Fall 2016 of $25,700. Awarding more than $36 million in institutional aid, Manhattanville is committed to affordability.
When comparing costs, compare total costs—not just the cost of tuition.
“Free tuition” does not cover the costs of fees, room and board. The final out-of-pocket cost at Manhattanville may be quite comparable, given the generous financial aid packages we offer.
There are no fine print details with Manhattanville’s scholarships—as long as students make satisfactory academic progress.
Students have access to small classes, accomplished and engaged professors, mentoring and the high-impact learning opportunities needed for career success.
What is the Excelsior Program?
New York’s Governor Andrew Cuomo introduced the concept of “free tuition” at public institutions, effective Fall 2017. Students that are New York State residents and U.S. citizens with adjusted gross incomes of less than $125,000 are considered eligible for the award. (This will be a three-year approach: eligibility will extend to families with incomes up to $100,000 in year one – Fall 2017, $110,000 in year two – Fall 2018, and $125,000 in year three – Fall 2019.). However, the fine print needs to be reviewed carefully. In order to receive “free tuition” students must:
• Maintain a minimum GPA—or they will lose the grant.
• Complete 30 credits per year—or they will lose the grant.
• Graduate in four years—or they will lose the grant.
• Live AND work in New York State after graduation for as many years as they receive the grant—if not, they’ll be required to repay the grant. In essence, the grant becomes a loan.
If the funding runs short, students may be denied the free tuition grant altogether. A state-run lottery will decide who receives the grant, forcing many eligible families to be turned away. There is still no clarity around the selection process, timeline for application and assessment of when the funds will be made available to families. Excelsior Program FAQs
In addition to committing over $36 million in financial aid for our students, we focus all of our institution’s resources on student success, by providing small classes, access to passionate professors, mentoring, and high-impact learning opportunities needed for career success. This commitment to success results in strong student outcomes: less than a year after graduation, 93% of the class of 2016 graduates are employed, or enrolled in graduate school.*
Excelsior Program FAQs
Will Manhattanville be participating in the Enhanced Tuition Award program?
Manhattanville, has decided to participate in the Enhanced Tuition Award program starting with the fall incoming class of 2018.
How does the Enhanced Tuition Award program work?
The application for the Enhanced Tuition program is handled by HESC, the NY State Higher Education Servicing Company. Information about the program is available here.
If selected by HESC as an eligible recipient of the award, Manhattanville must show that the amount of the award is matched by Institutional Merit or Need Aid. In addition, Manhattanville must freeze that students tuition for up to three years.
It is important to note that not every student who attends a private college or university will automatically qualify for the Enhanced Tuition scholarship. Students will need to apply to Higher Education Services Corporation (HESC), which will select awardees. If funding is insufficient to meet demand, HESC can use a lottery system to make awards. Preference will be given to students that are already enrolled, as opposed to incoming first-year and transfer students.
The maximum Enhanced Tuition Award is $3,000 (and when coupled with the required institutional match, the maximum award package totals $6,000). Awards will be reduced by any TAP funds awarded to the student. For example, a student who receives $3,000 in TAP will only be eligible for an additional $3,000 (Split 50/50 between New York State and Manhattanville College). The match provided by Manhattanville will be covered by merit or need based “Institutional Aid” that in most cases, will have already been awarded.