New State Grant and Scholarship Programs 2015- 16.

New State Grant and Scholarship Programs 2015- 16

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Agenda

• NY-AIMS• GOYF Loan Forgiveness Program• Masters-in-Education Teacher Incentive

Scholarship Program• New SAP chart for students with disabilities• Science, Technology, Engineering and

Mathematics (STEM) Incentive Program

NY-AIMS

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New York State Achievement and Investment in Merit Scholarship (NY-AIMS)

• Merit-based scholarships for NYS high school graduates who achieve academic excellence

• 5,000 awards of $500 each• Available for four years of undergraduate

study or five years if program of study requires five years

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NY-AIMS Eligibility

Applicants must:• Be legal residents of NYS at least one year• Be U.S. citizens or eligible non-citizens• Have graduated from NYS high school in 2014-15 • Be enrolled in an approved undergraduate

program of study, beginning with fall 2015-16 academic year

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NY-AIMS Eligibility

Applicants must have graduated having achieved at least two of the following:• 3.3 grade point average (GPA) or above• “With Honors” on NYS regents diploma or score 3 or

higher on two or more advanced placement examinations

• In top 15% of high school class

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NY-AIMS Award Determination

• Application and Supporting Documentation• Financial Aid Award Letters and Calculation

of Unmet Need

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NY-AIMS Selection Process

• For 2015-16, awards based on unmet need as indicated on college award letter– Used only if more than 5,000 applicants apply

• Proportionate by type of institution TOTAL APPLICATIONS PUBLIC PRIVATE

Applicant # 6,000 3,600 2,400

Recipient % 60% 40%

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NY-AIMS Award Duration

• Four years of undergraduate study, or five years if program normally requires five

• One-time application/annual payment request• Annual school certification of continued

enrollment and good academic standing

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NY-AIMS Certification and Payments

School certification:• Full-time attendance• Good academic standing• NYS resident

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NY-AIMS Certification and Payments

• Awards used to offset total cost of attendance determined for federal funds or used in addition to such cost of attendance

• Can be used to cover indirect costs for students• Funds sent to colleges on Remittance Advice each

semester• Recipients entitled to this merit scholarship

regardless of any other aid they receive

GOYF Loan Forgiveness Program

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Get On Your Feet Loan Forgiveness Program

• Established for the purpose of alleviating the burden of federal student loan debt for NYS college graduates

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Get On Your Feet EligibilityApplicants must:• Be legal residents of NYS for at least one year• Be U.S. Citizens or eligible non-citizens• Have graduated from a NYS high school or received a high

school equivalency diploma from an approved NYS program• Have received an undergraduate degree from a college or

university located in NYS in or after 2014-15 academic year• Be enrolled in the Federal Income Based (IBR) repayment

plan or Pay as You Earn plan that uses 10% discretionary income

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Get On Your Feet Eligibility

Applicants must:• Have adjusted gross income of less than $50,000• Be employed in NYS, if employed • Not be more than 30 days past-due or in default on any

student loan made under any NYS or federal education loan program or repayment of any NYS award

• Be in compliance with terms of any service condition imposed by a NYS award

• Apply for program within 2 years of receiving undergrad degree, associate’s or bachelor’s

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Get On Your Feet Award Amounts and Duration

• Awards equal to amount of recipient’s current federal monthly payment

• Available for up to 24 payments

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Get On Your Feet Application and Payment Process

• Application available on HESC website• Monthly disbursements made to servicer on

borrower’s behalf

Masters-in-Education Teacher Incentive Scholarship

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NYS Masters-in-Education Teacher Incentive Scholarship Program

• Incentive for students to pursue teaching as a profession

• Will begin in the 2016-17 academic year

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NYS Masters-in-Education Teacher Incentive Scholarship Program• Annually awards 500 top students full graduate

tuition awards to pursue their Masters in Education• Up to two years of graduate study• Awards equals the SUNY or CUNY graduate

tuition rate• Must pursue graduate study at a SUNY/CUNY

college

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NYS Masters–in-Education Teacher Incentive Scholarship Program• Recipients must agree to teach in New York

State for five years after receiving teacher certification

• Recipient will need to sign a service contract with HESC

• More details will available as the program requirements are finalized

Changes to Satisfactory Academic Progress (SAP) Standards for ADA Part-time Students

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2015-16 Budget Changes

• Change to Satisfactory Academic Progress (SAP) Standards for ADA Part-time Students– For students disabled as defined by Americans with

Disability Act of 1990– Effective with 2015-16 academic year– Modifies standards to be more attainable for students

first receiving state aid in 2010-11 and thereafter– TAP award obtained by dividing number of credits the

student is enrolled in, as certified by school, and student’s actual tuition liability

NYS Science, Technology, Engineering and Mathematics (STEM) Incentive Program

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Science, Technology, Engineering and Mathematics (STEM) Incentive Program

• To encourage New York State high school students to pursue careers in Science, Technology, Engineering

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STEM Incentive Program

• Provides awards for undergraduate study in STEM to students who attend a SUNY or CUNY college

• The student must agree to reside and work in a STEM field in New York State for five years

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STEM Eligibility

To be eligible for an award, an applicant must:• Be a NYS resident• Be a U.S. citizen or eligible non-citizen• Be ranked in the top 10 percent of his/her

graduating high school class in a NYS high school• Enrolled full-time at SUNY or CUNY beginning in

fall term following high school graduation

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STEM Eligibility con’t

• Be matriculated in an approved undergraduate program leading to degree in science, technology, engineering, or math

• Earn cumulative grade point average of 2.5 or higher each term after first semester

• Execute Service Contract agreeing to reside and work in NYS for five years in STEM field

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STEM Awards

• Equal the SUNY resident tuition or actual tuition, whichever is less

• Reduced by the amount of any duplicative (tuition only) assistance

• Paid directly to the student’s SUNY or CUNY college on behalf of the recipient

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STEM Award Duration

• Awards determined annually and paid each semester

• No more than four academic years (or five years if program of study is approved five-year program) of full-time undergraduate study

• ADA students may receive equivalent of 16 part-time awards instead of 8 full-time awards

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STEM: How to Apply

To establish eligibility the student must:• Complete and submit the NYS STEM Incentive

Program Web Supplement by August 15th of the academic year in which the student is seeking an award

• Applications for the 2015-16 academic year are available from January 1 through August 15

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STEM: Payments

• To receive initial payment, recipient must:– Complete Free Application for Federal

Student Aid (FAFSA), and– Complete TAP Application

• To receive subsequent payments, recipient must:– Complete FAFSA, and– Complete TAP Application

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STEM: Certification

• Separate payment roster – 200 series roster• Non-prepay• TAP award will be included on the roster• Must report additional tuition-only assistance• Schools cannot certify until the end of the term• If recipients are eligible for multiple awards, their

other scholarships will be placed on a Consolidated Scholarship Roster (800 series) for manual certification

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STEM: Certification

• Use certification code = 1(eligible) to certify students meeting all eligibility requirements

• Use certification code = 2 (TAP no Scholarship) for students who do not meet STEM program requirements but are eligible for a TAP award

• Use certification code = 9 if the student does not meet the eligibility requirements for any State award

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STEM: GPA Requirements

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Questions?

• [email protected]