Increases the income cap for purposes of the Excelsior scholarship from $125,000 to $150,000 for academic years 2026-2027 and thereafter.
Impact
By raising the income threshold, the bill aims to broaden access to the Excelsior Scholarship, making it available to a larger pool of students. As such, this change is anticipated to help alleviate the financial burden on families that were previously ineligible due to the lower income cap. Supporters of the bill argue that this expansion will promote higher education participation among middle-class students and improve educational equity across New York State.
Overall
Ultimately, S09335 seeks to make nuanced changes to state law governing educational financial assistance, sparking dialogue around the effectiveness and sustainability of scholarship programs in supporting students from varying socioeconomic statuses.
Summary
Bill S09335 proposes amendments to the New York education law, specifically increasing the income cap for the Excelsior Scholarship from $125,000 to $150,000 starting in the academic year of 2026-2027. This scholarship is designed to provide financial support to students enrolled in public institutions of higher education in New York, aiding those from middle-class families in affording their education without accruing substantial debt.
Contention
Despite the benefits, there are concerns regarding the fiscal implications of increasing the income cap. Opponents may argue that this adjustment could lead to budgetary strains on state resources allocated for educational funding. Additionally, discussions around the equitable distribution of financial aid may arise, particularly regarding whether increasing the cap effectively addresses the needs of lower-income students who may still struggle to afford college expenses even with the scholarship.
Exempts the income of dependent applicants from their eligibility determination for excelsior scholarship and tuition assistance program awards and makes adjustments to certain award reduction schedules.
Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $65,000 in 2027 and thereafter.
Relates to increasing the earnings limitation for positions of public service; increases the earnings limitation from $35,000 to $65,000 in 2027 and thereafter.
Provides that beginning in the 2026-2027 academic year, certain graduate students shall be required to pay 25% of all current and future mandatory university fees; provides that in the 2027-2028 academic year and thereafter, no mandatory university fees shall be charged to certain graduate students and adjunct staff, with the exclusion of the graduate student association student activity fee.
Provides that beginning in the 2026-2027 academic year, certain graduate students shall be required to pay 25% of all current and future mandatory university fees; provides that in the 2027-2028 academic year and thereafter, no mandatory university fees shall be charged to certain graduate students and adjunct staff, with the exclusion of the graduate student association student activity fee.
Increases the excelsior research and development tax credit maximum from six to twenty percent for qualified research and development expenditures attributable to activities conducted in New York state.