312014Mar

Higher Education 2014-2015 Budget Update

For the fourth consecutive year, the Legislature and Governor passed an on time budget for the SFY 14-15 on April 1. The final budget includes an increase to maximum TAP from $5000 to $5165. Unfortunately, this increase will not apply to two year degree programs. The Legislature did not restore funding (approximately $10 million) to create TAP parity between two and four year degree programs. Therefore it is our understanding maximum TAP for two year programs will continue to be $4000.

Thank you to the more than 1,800 individuals who took time to sign on to APC’s change.org petition. Your support is greatly appreciated!

Below is a summary of items of interest to APC.

Dream Act
The 2014-15 final budget does not include authorization for funding for the Dream Act.

Tuition Assistance Program (TAP)
The 2014-15 final budget includes $976,675,000 in funding for the TAP program, this is an increase of $19,875,000

Maximum TAP: The 2014-15 final budget increased maximum TAP from $5000 to $5165. The increase in maximum TAP would not apply to two year degree programs.

Youth in Foster Care:  The 2014-15 final budget transfers youth in foster care from the independent to dependent schedule.

HESC Administered Programs
Other HESC Administered Scholarships:  The 2014-15 final budget includes $46 million, an increase of $4 million from SFY 13-14, for the NYS Math and Science Teaching Initiative Scholarships, Veteran’s Tuition Assistance Program, Military Enhanced Recognition, Incentive and Tribute (MERIT) Scholarships, World Trade Center Scholarships, Memorial Scholarships for Children and Spouses of Deceased Firefighters, Volunteer Firefighters and Police Officers Scholarships, and the American Airlines Flight 587 Memorial Scholarships, Scholarships for Academic Excellence, Regents Health Care Opportunity Scholarships, Regents Physician Loan Forgiveness Awards, Continental Airlines Flight 3407 Memorial Scholarships.

The 2014-15 final budget also creates a new STEM Incentive Scholarships that is available to students who graduated in the top 10% of their class from a NY high school and who enroll in an approved program at SUNY or CUNY. The scholarship will equal the cost of undergraduate tuition minus any educational grants or scholarships.

NY Young Farmers: The 2014-15 final budget includes $100,000 for a new NY Young Farmers loan forgiveness program. A maximum of 10 awards can be issued in the maximum of $10,000.

Patricia K. McGee Nursing Faculty Scholarship and Loan Forgiveness Program: The 2014-15 final budget maintains funding at $3.9 million for this program.

Regents Licensed Social Worker Loan Forgiveness Program:  The 2014-15 final budget includes $1.2 million for this program. This is an increase of $250,000 from SFY 13-14. In addition, the final budget authorizes loan forgiveness for social workers working in home care setting and also gives a priority to social workers who are working in the human service field.

College Access Challenge Grant:  The 2014-15 final budget includes $1million for this program. This is federal funding NYS receives as part of its multi-year College Access Challenge Grant Award.

SED Higher Education Administered Programs
Higher Education Opportunity Programs:  The 2014-15 final budget includes $25.7 million for this program, an increase of $749,000 from SFY 13-14.

Science and Technology Entry Program (STEP):  The 2014-15 final budget includes $11.4 million for this program, an increase of $333,000 from SFY 13-14.

Collegiate Science and Technology Entry Program (CSTEP):  The 2014-15 final budget includes $8.6 million for this program, an increase of $253,000 from SFY 13-14.

Liberty Partnerships:  The 2014-15 final budget includes $13.3 million for this program, an increase of $388,00 from SFY 13-14.

Teacher Opportunity Corps Program Awards:  The 2014-15 final budget includes $450,000 for this program. This represents level funding from SFY 13-14.

BUNDY Aid:  The 2014-15 final budget includes $35 million for this program. This represents level funding from SFY 13-14.

High Needs Nursing at Independent Colleges:  The 2014-15 final budget includes $941,000. This represents level funding from SFY 13-14.

National Board for Professional Teaching Standards:  The 2014- 15 final budget includes $368,000 for this program. This represents level funding from SFY 13-14.

NYS Higher Education Capital Matching Grant Program
The 2014-15 final budget extends the Higher Education Capitol Matching Grant Program (HECap) for an additional three years to March 31, 2017.  In addition, the final budget requires the Dormitory Authority to issue an RFP for unallocated funding by September 1, 2014