NY passed a budget that includes free tuition to SUNY and CUNY schools for in-state families earning under $125,000 per year. Up to 940,000 families are eligible to have tuition amounts of $6,040 (SUNY’s) and $4,370 (CUNY’s) waived as long as graduates remain in NY for the same number of years that they received free tuition. Those attending grad school out of state would not be affected. If a college graduate moves out of state, then the tuition grants become student loans.
NY private colleges and universities must match a $3,000 grant that NY will provide to their in-state students. Financially weaker privates may be in a bind as more NY students turn to state universities. Estimated annual cost for this program will be 163 million. I assume TAP (Tuition Assistance Program) will either shrink or be eliminated. I know this might have affected one of my kid’s decisions on where to attend college.
It will be interesting to see what effect it has on the schools in reality. I think these schools are still a good choice for middle class families. If your family is making 130K in NY state, then even the private schools are a financial reach. You might have to pay for the tuition at state school, but it is still cheaper.
I think the competition is still going to be hard because the cost of private is so high, that smart kids are going to state schools mainly because the families cannot afford private school.
This makes for a good soundbite but I am not sure what effect it will have on the four year schools like SUNY Bingamton.
The private grant was shocking to see. I did not think they would be sending state funds to the private sector. This I think is going to have the same effect as loans had. The cost will just be bumped up $3k a year.
I doubt it. Most private NY colleges are trying to appeal to OOS students. They aren’t going to up the tuition by an amount equal to the grant because that would hurt them with residents of every other state. Columbia, NYU, Fordham and other colleges attract students from outside the US.
BTW, NY’s experience with its HEOP --Higher Education Opportunity Program-- has been funding special programs for less affluent kids at private colleges for a long time and by and large it’s worked well.