N.Y. Division of the Budget: students may see reduction in Excelsior Scholarship awards

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College graduation debts and money. (QuinceCreative / 254 images / Pixabay)

ALBANY, N.Y. (NEWS10)- The application period for the Excelsior Scholarship hasn’t opened but a significant number of students could see a reduction in their awards, according to the New York State Division of the Budget (DOB).

More than 210,000 students received an award under the Excelsior Scholarship according to the 2018-2019 annual report from the New York Higher Education Services Corporation (HESC).

“The application period for the Excelsior Scholarship will open soon, providing the opportunity to apply for funds that provide the middle class with the last mile of support they need to attend college tuition-free,” said Freeman Klopott from the DOB.

“That said, the State is contending with a devastating revenue loss, amounting to $61 billion over four years, and in the absence of multi-year federal funding for New York State, awards may have to be reduced. We hope students and their families will join us in calling on the federal government to act,” said Klopott.

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