College is expensive. Actually, college is ludicrously expensive these days, as 60 percent of graduates from colleges and universities in New York are coming out of school with a debt of more than $26,000, according to the Project on Student Debt, an initiative of the nonprofit Institute for College Access & Success.
With these numbers in mind, we support Assemblyman Chad Lupinacci’s (R-Huntington Station) push for increasing the maximum amount of financial aid awarded through the New York State Tuition Assistance Program.
While college costs have increased drastically over the last 10 years, there has been no substantial increase in the maximum TAP award a student can receive. Individuals can currently cash in a minimum grant of $500 and a maximum of $5,165 each year.
Lupinacci said he wants to raise the maximum to $6,470, while also increasing the maximum eligible household income from $80,000 to $100,000. We wholeheartedly support this measure, as the increases would better align with SUNY and CUNY tuition rates for in-state residents and the high cost of living in New York.
For the 2014-15 school year, a typical undergraduate student studying at a SUNY college will pay a little more than $7,500 for tuition and student fees. Add room and board, and that cost becomes about $19,600.
Raising the maximum TAP award would provide many students — who may be supporting themselves and working full-time — an easier pathway to obtaining their degrees. This program could be especially crucial to students who are on their own and may not have someone to co-sign a loan.
We often use the phrase “every penny counts,” and in this case it couldn’t be truer. The purpose of public education is to increase access to an important service. Increasing TAP will help further that goal.