As lawmakers begin to gear up for the 2024 legislative session, one of the budget and policy issues that will be addressed is the state\u2019s preeminent college financial aid program \u2013 the Tuition Assistance Program (TAP).\u00a0 While action on the issue is guaranteed, it is unclear whether the program will be strengthened and modernized.\u00a0<\/p>\n\n\n\n
The year 2024 is the 50th<\/sup> anniversary of the program and the state Assembly Higher Education Committee is holding a hearing to receive comments from key stakeholders on how best to update the program. <\/p>\n\n\n\n As we all know, the cost of college has steadily increased<\/a> at a pace that exceeds the nation\u2019s inflation rate. Nationally, over the past 20 years the average cost of college tuition and fees at public four-year institutions has risen 9% annually on average. The rise in tuition between public institutions and independent (private) ones is different, but the conclusion is the same \u2013 the costs of attending college have been rising for decades and are increasing at a rate faster than overall inflation.<\/p>\n\n\n\n With college costs rising at a rate faster than the incomes<\/a> of most Americans, college students and their families took out loans to make up the difference. As costs rose, so did the amount borrowed. The impact has been well documented<\/a> \u2013 U.S. student loan debt exceeds<\/a> both credit card and auto loan debt, second only to home mortgages.<\/p>\n\n\n\n The costs that drive the increases in college expenses are decisions largely made at the state and college-specific levels. New York, like the rest of the nation, has for decades<\/em> shifted the costs of higher education from the public to the families of college students. During that time, the shift was largely done out of sight, during last minute state budget deals. The burden-shift policy became most explicit during the Cuomo Administration. The former governor made a big deal out of the need for \u201cpredictable tuition\u201d increases and drove the state toward adopting that approach starting in 2011. For the next decade nearly constant hikes<\/a> raised tuition rates by more than 42%, yet direct state aid to colleges was largely stagnant<\/a>.<\/p>\n\n\n\n For five decades, New York has helped to offset the costs of attending college through its Tuition Assistance Program, known as \u201cTAP.\u201d TAP<\/a> was established in the early 1970s as the way of directing financial aid to the neediest students in both the public and independent college sectors. In its first academic year (1974), the program offered $1,500 for the neediest students to cover tuition. While the $1,500 was in excess of the maximum public tuition charged at the State University<\/a> and the City University<\/a> of New York, the goal at that time also was to help stabilize the costs of attending college in the independent (private) college sector. At that time, the existing state support for independent colleges and universities covered only 22% of private tuition (the maximum state financial aid award to a private college student prior to TAP was $600). The goal<\/a> of the then-new TAP assistance was to boost that support to cover half of independent college tuition for the neediest students. <\/p>\n\n\n\n Today, the maximum TAP award does not cover public college tuition<\/a> and comes nowhere near half of the costs of tuition costs for independent<\/a> colleges. Add to that the significant additional fees charged at public institutions, which are not covered by TAP, and books and housing, and it\u2019s easy to see how college has become increasingly out-of-reach for all but the wealthy\u2013 unless loans are taken out. <\/p>\n\n\n\n A lot has changed on college campuses since the early 1970s. A college degree is far more necessary<\/a> than it was five decades ago. Today\u2019s college students<\/a> are older, more likely to be female, and far more diverse than in 1974. Also, many more students have to work<\/a> to afford college (in addition to taking on the increased debts).<\/p>\n\n\n\n