Financial Aid Programs - Scholarships
- Excelsior Scholarship Program
- Hope Scholarship Tax Credit
- Lehman College Academic Scholarship
- Lehman College Source of Aid Information
- Native American Scholarship Aid
- Other Scholarships
- Peter F. Vallone Scholarship (formerly NYC Merit Scholarship)
- The Lifetime Learning Tax Credit
Hope Scholarship Tax Credit
The HOPE Scholarship tax credit attempts to make the first two years of college more affordable. Students receive a 100% tax credit for the first $1,000 paid for tuition and fees minus grants, scholarships, and other tax-free educational assistance. This credit is phased out for joint filers who have an adjusted gross income between $80,000 and $100,000, and for single filers who have an adjusted gross income between $40,000 and $50,000. Students who are in their first two years of college and enrolled on at least a half-time basis in a degree or certificate program can claim the credit for two years. The taxpayer can claim a credit for his own, his or her spouse's or dependent childrens' tuition expenses. More information about the Hope Scholarship Tax Credit.
Lehman College Academic Scholarship
Lehman College offers Academic Scholarships to entering students with outstanding records of scholastic accomplishment. Freshmen do not need to file a separate application. Prior to admission, all entering freshmen are evaluated as potential scholarship recipients. However, transfer students must submit an application. Further information as well as applications may be obtained by contacting the Office of Testing and Scholarships at 718-960-8156 (Room 205, Shuster Hall).
Lehman College Sources of Aid Information
Lehman Students can consult their departmental and/or program advisors for information on scholarships specific to their field of study. Timely scholarship information can be found on the bulletin boards for the Office of Testing, Scholarships and Awards (Shuster Hall, Room 205; 718-960-8156). The following offices can also be consulted:
- Career Services: Shuster Hall, Room 254 (718-960-8366)
- Reference Desk: Lehman Library, 1st floor (718-960-8580)
In addition, Lehman College routinely reviews its incoming and continuing students with regard to eligibility for a number of Lehman scholarships and grants. Consideration for these scholarships and grants does not require an application. Awardees are individually contacted.
Native American Scholarship Aid
The New York State Education Department offers scholarships to New York State residents who are enrolled members of a New York State Native American tribe. Awards range up to $2,000 per year for full-time study (or $85 per credit part-time) and are, depending on the program, renewable. For more information, visit NY State Native American Scholarship Aid.
Federal government Native American scholarship assistance is offered through the Bureau of Indian Affairs Higher Education Grant Program. Awardees must:
- Be a member of, or a one-quarter degree blood descendent of a current member of a tribe registered with the Bureau of Indian Affairs American Indian,
- Be accepted for admission to a nationally accredited institution of higher education which provides a course of study conferring the Associate of Arts or Bachelor's degree and have
- Demonstrated financial need as determined by a college financial aid officer.
For additional information regarding financial aid for Native Americans, visit the American Indian Education Foundation website.
Many public and private organizations award scholarship money. Take some time to research the available financial aid resources and request all applications as soon as possible. Some aid is packaged on a first-come, first-served basis; procrastination will hurt your effort. Also keep in mind that most scholarship agencies take into account your cost of attendance and financial need prior to the awarding of aid. Therefore, file your FAFSA early.
High school college advisors and local libraries are also good sources of scholarship information. Before you begin your search for additional scholarships, heed a word of caution. Many organizations will, for a fee, promise to simplify and speed up your scholarship search by doing the search for you. Some of these organizations are legitimate and honest. However, some of these organizations are not. Beware of any scholarship search organization that guarantees scholarship money. For more information regarding scholarship search scams, visit the Federal Trade Commission.
The Internet is an excellent source of information on all types of student financial aid. FastWeb, the Internet's largest financial aid search engine. Other informative Internet financial aid websites and/or search engines are the following:
- US News and World Report
- Sallie Mae Scholarship Search
- BlackExcel (visit regardless of your ethnicity)
- Collegiate Funding
Peter F. Vallone Scholarship (formerly NYC Council Merit Scholarship)
The Peter F. Vallone Scholarship rewards New York City high school graduates who have proven their ability to succeed academically while they were in high school. Awardees currently receive $800 per year ($400 per semester). Scholarship awards may vary for each academic year. There is no separate application for the scholarship. Students are automatically considered for the award when they apply for admission to CUNY.
To qualify you must:
- Be a U.S. citizen or eligible non-citizen
- Be a Resident of New York City
- Graduate from a New York City high school with at least an 80(C) College Academic Average (CAA) average
- Pass at least twelve college preparatory courses in high school
- Enroll at a CUNY college as a full-time student within one year of graduating from high school
- Register as a full-time student each semester (except summer) and maintain at least a 3.0 cumulative GPA
- Attend CUNY before attending any other post secondary institution
- Students must graduate high school beginning June 2014
The Lifetime Learning Tax Credit
College juniors, seniors and graduate school students, as well as adults, who go back to school to change careers or upgrade their job skills, can utilize this tax credit. A family can receive a 20% tax credit for the first $5,000 of tuition and required fees minus grants, scholarships, and other tax-free educational assistance each year through 2002. It rises to 20% of $10,000 after year 2002. The maximum credit is determined on a per-family basis, regardless of the number of post-secondary students in the family. It is phased out for joint filers who have between $80,000 and $100,000 of adjusted gross income, and for single filers who have between $40,000 and $50,000 of adjusted gross income. The taxpayer can claim a credit for his own, his or her spouse's or dependent children's tuition expenses. It is possible, because of the class year of family various members, for a family to receive both Lifetime Learning and HOPE Scholarship tax credits the same year. For more information, visit the NASFAA website.