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Westchester County Business Journal: "Pace University’s new ‘Opportunity Scholarship’ responds to free public college tuition"


Pace University’s new ‘Opportunity Scholarship’ for students from New York entering its Pforzheimer Honors College responds to free public college tuition featured in Westchester County Business Journal

Pace University announced a new scholarship for students from New York entering its Pforzheimer Honors College. The Opportunity Scholarship offers additional aid to students under similar terms to a state program that offers free in-state tuition at public colleges.

The donor-funded scholarship will offer up to $5,000 to students who are New York state residents and come from a family with a gross income of $125,000 or less.

Those qualifications are similar to the terms of the Excelsior Scholarship, the state program championed by Gov. Andrew M. Cuomo that offers free in-state tuition at all SUNY and CUNY colleges for students from families making $125,000 or less. The scholarship provides qualifying students with additional funds to cover the cost of tuition left over after state and federal financial aid grants.

The program was adopted in last year’s state budget, despite the protests of private colleges that said it would create an uneven playing field.

Related: Colleges weigh uncertain impact of state’s Excelsior Scholarship debut

The new Opportunity Scholarship would be in addition to existing scholarships for honors students, the school said. Pace noted that 92 percent of all its students receive some form of financial aid.

Pace is one of the relatively few private colleges participating in the state’s new Enhanced Tuition Awards program, which provides up to $6,000 in aid to students from New York attending participating private colleges and universities. The program was created partly in response to the concerns private colleges had with the Excelsior Scholarship, but only about a third of the state’s private institutions are participating.

Pace expects that about 20 percent of students entering its honors college will be eligible for the Opportunity Scholarship. Students need to be enrolled in the Honors College at Pace in their freshman year to qualify and can renew the scholarship each year by remaining in good standing with a grade point average above 3.0.

Pace enrolls about 13,000 students in bachelor’s, master’s and doctoral programs across campuses in Westchester County and lower Manhattan.

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Pace University Announces New Scholarship for Honors Students who are New York State Residents


Pace University Announces New Scholarship for Honors Students who are New York State Residents

As part of a continuing effort to attract the best and brightest students to Pace University, the university is offering new donor funded scholarships that will benefit incoming honors students.

The “Opportunity Scholarship” will support new students in the Pforzheimer Honors College with $5,000 awarded to those who qualify.

“This new scholarship helps keep the doors of opportunity open for students of all backgrounds,” said Pace President Marvin Krislov. “We are so grateful that our friends and donors are making these dreams a reality for these driven and deserving students who will add vibrancy and tenacity to the classroom.”

This new scholarship will be an addition to the Honors Scholarships currently awarded to students at Pace.

Pace already provides substantial financial aid to students, with 92% receiving aid, and nearly half are the first in their families to attend college. Also, Pace participates in the New York State Enhanced Tuition Awards program that provides tuition awards to students who are New York State residents attending a private college or university in New York State. Recipients receive $6,000 through a combination of their TAP award, ETA award and a match from their institution.

Approximately 20% of the new students admitted to the Honors College are candidates for this award. To be eligible for an Opportunity Scholarship, students need to be enrolled in the Honors College at Pace in their freshman year, be a New York State resident, and have a family adjusted gross income of $125,000 or less. Students could renew the $5,000 award for their four years at Pace assuming they remain in good standing and maintain a 3.0 GPA.

Those interested in applying to the Pforzheimer Honors College can get more information here.

About Pace University: Since 1906, Pace has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in Lower Manhattan and Westchester County, NY, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, Elisabeth Haub School of Law, and Seidenberg School of Computer Science and Information Systems. A 2017 study by the Equality of Opportunity Project ranks Pace University first in the nation among four-year private institutions for upward economic mobility based on students who enter college at the bottom fifth of the income distribution and end up in the top fifth.