Governor of New York, Andrew Cuomo, peaked the interest of many on January 3rd with the suggestion of a proposal that would cover tuition prices at public universities and colleges in New York State for families earning up to $125,000 by 2019.
“College is a mandatory step if you really want to be a success,” the Democratic governor said as he announced the plan, which requires approval by the state’s legislature.
About 70 percent of jobs in the state now require a college education, he said. He described graduating with thousands of dollars of debt like “starting a race with an anchor tied to your leg.”
This is great news to those who are considered to be in the middle class, as they would not classify for financial aid. This could also aid those struggling with student debt. However, others see the flaws in this plan, as certain public higher education officials are worried that this proposal would cause schools to struggle with the needs of their students even more than now.
But how much would this plan really cost and how many lives would truly be affected?
For undergraduate students who hail from New York, tuition for a bachelor’s degree costs $6,470 per year at the State University of New York’s colleges, and $6,330 per year at the City University of New York’s four-year colleges.
Cuomo said his proposed Excelsior Scholarship would cost about $163 million a year and potentially benefit some 940,000 families with college-age children in the state.
The administration also estimated that the program in its starting year would cost $163 million, which the public higher education officials claim is too low of a price. The calculations made by the New York City’s Independent Budget Office found that a plan similar to Cuomo’s could cost as much as $232 million.
The state hopes that the student enrollment rate may increase with this proposal, but there are always worries about how the schools would support themselves without the income of tuition.
By: Amber Sanchez