Governor Hochul Issues a Proclamation Designating April as Financial Aid Awareness Month to Highlight Financial Aid Opportunities for New York Students and the Importance of Completing the FAFSA
Announces Petrie Foundation Has Awarded CUNY $1 Million to Launch New CUNY Financial Aid Support Team to Help 100,000 New York City Students Access Available Aid
Launches 2024 New York State STEM Incentive Program to Support SUNY or CUNY Students Pursuing a STEM Degree; Application Opens April 3
Initiatives Follow Governor Hochul’s 2024 State of the State Announcement to Make FAFSA Completion Universal in New York
Governor Kathy Hochul issued a proclamation declaring April 2024 as Financial Aid Awareness Month in New York State to help inform students and families of the importance of completing the Free Application for Federal Student Aid and the many financial aid options available to them. Governor Hochul also announced that the Petrie Foundation has awarded the City University of New York $1 million to launch CUNY Financial Aid Support Team (FAST) to help 100,000 students complete the FAFSA. The program will run through September 2024. Additionally, Governor Hochul is launching the 2024 New York STEM incentive program on April 3, which will offer tuition awards to New York State students at State University of New York or City University of New York campuses pursuing a degree in an approved Science, Technology, Engineering, and Mathematics field of study. Applicants must also agree to live and work in New York State for five years after graduation.
"For New Yorkers who want to pursue higher education, financial aid is a critical tool that can help transform their dreams into a reality," Governor Hochul said. "Far too often, students and families miss out on the full scope of financial aid opportunities available to them, causing many to miss out on this critical support. We’re bridging the information gap and providing students with the resources they need to complete their FAFSA application and unlock financial aid opportunities that can support their higher education journey.”
To kick off Financial Aid Awareness Month, Governor Hochul is announcing several initiatives in New York State to help students pursue a higher education degree. The Governor’s efforts include:
- Encouraging New York State high school seniors to complete their FAFSA application and take full advantage of financial aid programs by sending letters to students across the state highlighting the resources available to them.
- Announcing the Petrie Foundation has awarded CUNY $1 million to launch FAST, a new FAFSA completion program in partnership with New York City Public Schools and other institutional partners to target 100,000 at-risk students through September 2024.
- Launching the 2024 New York State STEM Incentive Program application on April 3 to support New York State students pursuing a STEM degree at any SUNY or CUNY campus. Applicants must also agree to live and work in New York State for five years after graduation.
- Highlighting events across New York State to help students and families navigate the financial aid process. Full list of events available here.
Since taking office, Governor Hochul has remained committed to expanded access to financial aid, including announcing a 2024 State of the State initiative to make FAFSA completion universal in New York State. Recent data from the National College Attainment Network revealing that over $225 million in Federal Pell Grant funding went unclaimed in New York State in 2023. The FAFSA is the first step in obtaining federal aid, including the federal Pell Grant, work-study, and low-cost loan programs, as well as institutional-based aid awarded by many colleges and universities. Students, parents and counselors can access more information on the FAFSA, as well as a number of other resources at FAFSA Ready.
During the month of April, Governor Hochul announced that the New York State Higher Education Services Corporation (HESC), SUNY, CUNY and academic and community organizations in New York will host multiple events to help students and their families navigate the financial aid processes and complete the FAFSA and TAP applications. Events include information sessions on common errors students make when filling out financial aid applications, virtual drop in opportunities to connect with HESC experts, and discussions about scholarship opportunities for students. A full schedule of events can be found here.
In October 2023, SUNY launched the FAFSA Completion Corps to help prospective students complete the new federal application for college financial aid. SUNY received a nearly $300,000 grant from AmeriCorps to launch the initiative, which began with 48 students across six SUNY campuses. The positions are funded through federal work-study or other financial resources. Additionally, at the end of the AmeriCorps service term, students will receive a Segal AmeriCorps Education Award, which may be used to repay qualified loans and to pay current educational expenses at eligible institutions of higher education and training programs.
The FAFSA links directly to the New York State Tuition Assistance Program (TAP) application, so both can be completed at the same time. Students who do not qualify to complete the FAFSA are encouraged to complete the New York State Dream Act application to determine eligibility to apply for NYS financial aid.
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