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December 7, 2011

CCNY Students Receive $86.4 Million in Financial Aid

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President Coico

Tuition at The City College of New York is significantly lower than at other public colleges and universities in the Northeast as well as at private institutions in New York City. CCNY President Lisa S. Coico has pledged to keep the College affordable for students with the greatest financial need.

President Coico Pledges to Keep CCNY Affordable for Students With Greatest Financial Need

The City College of New York provided $86.4 million in financial aid to its students for fiscal year 2011, the College announced today. As a result, 42 percent of all students, including 59 percent of the freshman class, paid no tuition. Approximately three-fourths of the student body received either full or partial financial aid. This support, from government sources and private philanthropy (scholarships), is critical to enabling CCNY students to study without economic hardship.

“We are committed to keeping City College affordable to all of our students while providing a world-class education that delivers an exceptional value,” said CCNY President Lisa S. Coico. Many students raised concerns about affordability after the CUNY Board of Trustees in late November approved a multi-year plan that calls for “predictable and gradual” tuition increases.

“Although no one I know wants a tuition increase, I believe that these gradual tuition increases are rational and necessary at this point in time to continue to improve the educational experience at City College,” President Coico said in a letter to the College community. “My commitment to you is that we will do everything in our power to mitigate their adverse effects.”

Under the plan approved by the trustees, in-state undergraduate tuition will rise by $150 per semester through the 2015-2016 academic year. CCNY and other CUNY colleges will use the additional revenue to hire faculty and support students. This differs from previous tuition increases that offset reductions in state aid.

A provision of the plan mandates protection from economic hardship for students who qualify to receive full payments under the New York State Tuition Assistance Plan (TAP). For those students, CUNY colleges must bridge the gap between the maximum TAP stipend and tuition. TAP currently provides up to $5,000 a year; CCNY in-state, undergraduate tuition is now $5,130 a year.

Steps cited by President Coico to maintain City College’s affordability include:

  • Redoubling fundraising efforts for scholarships.
  • Targeting some funds for “bridge” scholarships to help students who do not qualify for full TAP and Pell grants, but are nonetheless struggling to meet their tuition.
  • Continuing and strengthening no-interest “bridge-the-gap” loans to cover tuition increases announced in 2011.
  • Active lobbying for the Dream Act and, in the interim, extension of TAP to out-of-state students who qualify to attend City College as in-state students.
  • Redoubling efforts to hire City College students whenever possible to keep them on campus and working toward the goal of graduating on time.

Even with the tuition increases, City College expects to remain significantly more affordable than public institutions in other states as well as private universities in New York City. In-state tuition is currently $6,966 a year at University of Maryland, $8,256 at University of Connecticut, $10,104 at Rutgers University and $15,124 at Penn State University. In New York City, yearly tuition is $39,235 at Fordham University, $39,344 at New York University and $43,088 at Columbia University.

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