NYS HESC 2021-22 SFY ENACTED BUDGET UPDATE

Dear Colleagues:

Please see higher education highlights below from the 2021-22 SFY Enacted Budget.

2021-22 New York State Budget

The Enacted 2021-2022 New York State Budget continues to fund programs that enable the neediest of New York's students to pursue their educational goals without financial constraints, and includes the following for the 2021-22 fiscal year:

Full support for over $1 billion for HESC financial aid programs

The 2021- 2022 State Budget protects New Yorkers’ access to an affordable college education in the face of economic challenges caused by the pandemic by preserving student financial aid and opportunity programs and maintaining full support for over $1 billion in HESC financial aid programs, including TAP and the Excelsior Scholarship.

Ensures students impacted by the coronavirus pandemic maintain their financial aid eligibility

The Enacted State Budget holds harmless students who were unable to complete academic requirements needed to maintain financial aid eligibility because their enrollment was disrupted due to the pandemic, were unable to maintain satisfactory academic progress due to illness, course closure, or other special circumstances.

Increases the Maximum TAP Award

The 2021-22 State Budget increases the maximum TAP award by $500 for all recipients attending eligible degree and non-degree granting two-year, four-year, public, independent and for-profit institutions. Additionally, effective with the 2021-22 academic year, recipients in each category will be awarded off a single schedule, regardless of the year in which they were first determined eligible for their State award.

TAP Tuition Credit

The Enacted State Budget amends the calculation of the TAP tuition credit and shifts the associated cost to the State General Fund by the 2024-25 academic year.

Continues 2016-17 Tuition Rates for the Excelsior Scholarship

The Enacted Budget extends the use of the 2016-17 undergraduate tuition rate for Excelsior recipients through the 2023-24 academic year; thereafter, the undergraduate tuition rate charged to Excelsior recipients can annually be reset to the tuition rate established for the subsequent academic year.

Thank you for your continued partnership.

Regards,
The New York State Higher Education Services Corporation