New York Student Loans And Financial Aid Programs

New York has several private student loan and financial aid programs that can help you pay for college. If you're going to be attending college in New York, you need to be looking to take advantage of these programs.

These programs are designed to help make college more affordable - so that you can get the education you need. These programs can include scholarships, grants, and student loans.

Don't forget that there are Federal student loan programs available as well. You can find out more on how to get a Federal student loan here.

There is also a specific order of operations to pay for college that we recommend students follow. These programs specific to the State of New York can help you to avoid borrowing more money than you need to. 

New York Student Loan Programs

New York doesn't have any unique student loan programs to help it's students pay for college. However, there are still Federal student loans available to students who attend college in New York. 

If you're just looking for private student loan options, we recommend:

• Credible - Like the Kayak of student loans, they help you shop around and compare options. Try Credible here.
• College Ave - One of the best private student loan lenders. Get A Quote At College Ave Here.

Check out our complete guide to finding the best student loans here.

New York Scholarship Programs

New York has several scholarships available to students who want to attend school in the state.

Excelsior Scholarship

The Excelsior Scholarship, in combination with other student financial aid programs, allows students to attend a SUNY or CUNY college tuition-free.

A recipient of an Excelsior Scholarship may receive up to $5,500.

To determine the award amount, the 2022-23 resident tuition rate charged by SUNY ($7,070) or CUNY ($6,930) will be reduced by the amount of certain other student financial aid awards which an applicant has or will receive for the academic year, including a NYS Tuition Assistance Program (TAP) award and/or federal Pell grant. The Excelsior Scholarship will cover any remaining tuition liability up to $5,500; and a tuition credit will cover any remaining tuition expenses not covered by the Excelsior Scholarship.

Learn more about the Excelsior Scholarship.

Enhanced Tuition Scholarship

The Enhanced Tuition Awards (ETA) program provides tuition awards to students who are New York State residents attending a participating private college located in New York State. Recipients will receive $6,000 through a combination of their TAP award, ETA award and a match from their private college.

Learn more about the Enhanced Tuition Award.

Part Time Scholarship

The New York State Part-time Scholarship (PTS) Award Program provides tuition awards to students attending a SUNY or CUNY community college who are enrolled in at least 6 but less than 12 credits each term.

A recipient of a PTS Award will receive an award that covers the cost of six credit hours or $1,500 per term, whichever is less, at a SUNY or CUNY community college.

Learn more about the Part Time Scholarship.

Scholarship For Academic Excellence

NYS Scholarships for Academic Excellence provide up to $1,500 per year for up to five years of undergraduate study in New York State. 

This program provides scholarship assistance to outstanding New York State high school graduates. Each year, 8,000 scholarships are awarded - up to 2,000 scholarships of $1,500 and 6,000 scholarships of $500 to top scholars from registered New York State high schools. Awards are based on student grades in certain Regents exams. Recipients can also receive other non-loan student aid, but the total cannot exceed the cost of attendance.

Learn more about the Scholarship For Academic Excellence.

STEM Incentive Program

The NYS STEM Incentive Program provides tuition awards to students who are New York State residents attending a public or private degree-granting college or university located in New York State. Recipients must be in the top 10 percent of students of their high school graduating class, pursue an approved, two or four-year STEM degree program and agree to live in NYS and work in a STEM field in NYS for five years after graduation.

A recipient receives an annual award for full-time study up to the annual tuition charged to NYS resident students attending an undergraduate program at the State University of New York (SUNY), or actual tuition charged, whichever is less. For the 2022-2023 academic year, the standard SUNY tuition rate is a maximum of $7,070 per year.

The STEM Incentive Program award will be reduced by the amount of any other tuition-only assistance award, such as the NYS Tuition Assistance Program (TAP), received.

The number of awards to be made under this Program to students attending private degree-granting institutions is subject to available funding.

Learn more about the STEM Incentive Program.

Math and Science Teaching Incentive Program

The NYS Math and Science Teaching Incentive Program is offered to encourage students to pursue careers as math and science teachers in secondary education (grades 7-12). Awards are made to students attending school at the undergraduate and/or graduate degree level in exchange for five years of full-time employment as math or science teachers in secondary education in NYS.

A recipient receives an annual award payment for full-time study equal to the annual tuition charged to a NYS resident student attending an undergraduate program at the State University of New York (SUNY), or actual tuition charged, whichever is less. For the 2022-2023 academic year, the standard SUNY tuition rate is $7,070.

Learn more about the Math and Science Teaching Incentive Program.

New York Grant Programs

New York also has a grant program to provide need based financial aid to New York residents.

Grants are one of the best forms of financial aid because, in most circumstances, you don't have to pay the money back.

Tuition Assistance Program (TAP)

The New York State Tuition Assistance Program (TAP) helps eligible New York residents pay tuition at approved schools in New York State. Depending on the academic year in which you begin study, an annual TAP award can be up to $5,665. Because TAP is a grant, it does not have to be paid back.

You can learn more about the Tuition Assistance Program.

Aid For Part Time Study

The Aid for Part-time Study (APTS) program provides grant assistance for eligible part-time students enrolled in approved undergraduate studies.

For this program, part-time study means being enrolled for at least:

• 3 but fewer than 12 semester hours per semester.
• 4 but fewer than 8 credit hours per trimester. 

Awards provide up to $2,000 per year for part-time undergraduate study at participating institutions in New York State. An APTS award cannot exceed tuition charges.

Learn more about the Aid For Part Time Study.

Other Options

If you already have student loans and are looking for options as a New York resident, check out our New York Student Loan Forgiveness Program page. That page has all the different options available to New York residents to potentially get some of your student loan debt forgiven.

You might also look at refinancing your student loans and saving money in interest while also potentially lowering your payment. Check out our guide on the Best Places To Refinance Your Student Loans.

If you're looking for ways to save for college in New York, check out our New York 529 Plan and College Savings Guide.

Finally, check out the other student loan and financial aid programs by state.