Money in Your Pockets: Governor Hochul Announces More Than 40,000 Newly Eligible College Students Have Applied for Financial Aid Following $55.7 Million Expansion

Governor Kathy Hochul today announced a significant milestone in New York's Tuition Assistance Program. Following the increase in income thresholds secured in the Fiscal Year 2025 Budget, more than 40,000 newly eligible New York State students have already submitted TAP applications for the 2024-25 academic year.

"Broadening TAP's reach allows us to attain a brighter future for more of our students - one where they can achieve their educational goals and be proud of their accomplishments," Governor Hochul said. "With more than 40,000 TAP applications already received from newly eligible students, it is clear that increasing the TAP income thresholds was a much-needed step in making higher education more accessible and more affordable for all New Yorkers."

The FY 2025 Budget provided a significant increase of $55.7 million in TAP funding to support more students across New York State starting in the 2024-25 academic year. Changes include:

• Increasing the minimum TAP award increased from $500 to $1,000.
• Increasing the net taxable income limit for dependent student eligibility from $80,000 to $125,000.
• Increasing the net taxable Income limit for independent married students from $40,000 to $60,000.
• Increasing the net taxable Income limit for independent single students from $10,000 to $30,000.

These changes could benefit approximately 93,000 students in both public and private colleges and universities, including the 48,000 students who are newly eligible for TAP.

In addition to the new maximum income thresholds, TAP was expanded in 2024 to include its availability to part-time students and those enrolled in non-degree programs. This expanded access ensures that non-traditional students can receive the financial support they need to pursue higher education and career training.

To hear more about how TAP has transformed the educational journeys of students, click here to view a video from a student who shares their experience of how the NYS TAP award has made their higher education goals a reality.

New York State Higher Education Services Corporation President Dr. Guillermo Linares said, "TAP is one of the nation's largest need-based college financial aid grant programs, and since its inception in 1974, it has provided nearly $30 billion to help more than 6 million New Yorkers attend college. The enhancements to TAP underscore Governor Hochul's dedication to supporting students in their educational journeys. By expanding eligibility and increasing award amounts, we are empowering more New Yorkers to achieve their academic goals."

New York State Education Commissioner Betty A. Rosa said, "The recent increase in TAP applications is a testament to our commitment to making higher education more accessible for all New Yorkers. By raising the income threshold for TAP eligibility, we are opening doors to countless students who might otherwise face financial barriers to pursuing their educational goals right here in New York. This initiative is a critical step toward ensuring that every student has the opportunity to achieve their full potential, regardless of their economic background. We are dedicated to supporting our students and fostering a brighter future for our state."

SUNY Chancellor John B. King, Jr. said, "There is a place at SUNY for every New Yorker, and increasing eligibility for the Tuition Assistance Program is a huge win for New York students and their families as they strive for college degrees and upward mobility. The increase in TAP applications from students who were previously ineligible is proof positive that the eligibility expansion will improve lives. Today, 52% of in-state SUNY students attend tuition-free due to TAP and other state and federal aid, and I would like to thank Governor Kathy Hochul and the New York State Legislature for their steadfast commitment to making college affordable for more New Yorkers so they can claim their place at SUNY."

CUNY Chancellor Félix V. Matos Rodríguez said, "We're working hard at CUNY to encourage more students to leverage New York State's expanded TAP funding so that higher education is more accessible and affordable. We appreciate Governor Hochul's ongoing efforts to help New Yorkers attend college and contribute to the state's growing economy,"

State Senator Toby Ann Stavisky said, "If you build it, they will come. By increasing the eligibility income levels, more than 20,000 new students came. We often use the word 'transformative,' and higher education transforms students' lives. We must continue to make this investment, and students will take advantage of the opportunity to obtain a college degree. I introduced legislation to increase the income amounts in 2022, and it passed the Senate unanimously, 63-0. I felt that we were losing middle-class students to other states. This increase in TAP funding would not have been possible without the collaboration between the Senate, Assembly, and the Governor working together to 'Turn on the Tap' and I want to thank Assemblywoman Patricia Fahy and Governor Hochul for helping to make these dramatic improvements to TAP."

Assemblymember Patricia Fahy said, "As Assembly Higher Education Committee Chair, I could not be more proud of the historic TAP increases achieved in this year's state budget to make college more affordable in our state. New York's economy thrives on a well-educated workforce, and now, thanks to the largest expansion of TAP in a quarter-century, the program will support a stunning 48,000 newly eligible students in achieving their academic goals. This expansion targets both independent students who previously were income ineligible for TAP at just $10,000 in income, as well as middle-class families who struggle to keep up with rising college costs. My special thanks to the tremendous partnership of Senate Higher Education Committee Chair Toby Ann Stavisky and to Assembly Speaker Carl Heastie, Senate Majority Leader Andrea Stewart-Cousins, and Governor Kathy Hochul for their support of this historic expansion."

Students interested in applying for TAP are encouraged to complete their Free Application for Federal Student Aid (FAFSA). 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. The FAFSA links directly to the New York State Tuition Assistance Program (TAP) application, so both applications can be completed at the same time.

Students eligible for TAP under the Senator José Peralta New York State DREAM Act can apply here. Applications for the 2024-25 academic year will be accepted through June 2025.

TAP is just one of the many ways New York State makes college affordable and accessible. Visit the New York State Higher Education Services Corporation website to explore other options available to help pay for college.

Contact the Governor's Office