2004 Yellow Book | |||||
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NEW YORK STATE HIGHER EDUCATION SERVICES CORPORATION (Summary) View Details |
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Adjusted Appropriation 2003-04 |
Executive Request 2004-05 |
Change |
Percent Change |
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AGENCY SUMMARY | |||||
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General Fund | 900,018,000 | 651,131,000 | (248,887,000) | -27.7% | |
Special Revenue-Other | 99,139,000 | 102,494,000 | 3,355,000 | 3.4% | |
Special Revenue-Federal | 11,556,000 | 12,419,000 | 863,000 | 7.5% | |
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Total for AGENCY SUMMARY: | 1,010,713,000 | 766,044,000 | (244,669,000) | -24.2% |
![]() * 2003-04 and 2004-05 reflect Executive recommended appropriations. |
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ALL FUNDS PERSONNEL BUDGETED FILL LEVELS |
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Fund |
Current 2003-04 |
Requested 2004-05 |
Change |
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All Other Funds: | 735 | 735 | 0 |
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TOTAL: | 735 | 735 | 0 |
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Budget Highlights |
The Higher Education Services Corporation administers the State's Tuition Assistance Program (TAP), the Federal Family Education Loan Program, and other State and Federal aid programs. |
The Higher Education Services Corporation is located in the Education, Labor and Family Assistance appropriation bill. |
State Operations |
The Executive recommends a total State Operations appropriation of $105,697,000 for the Corporation. This represents a net increase of $4,218,000 above State Fiscal Year (SFY) 2003-04 levels. The increase is attributable to a $863,000 increase in federal support for State Operations, and a $3,355,000 increase in support through Special Revenue Funds. The $863,000 increase is from additional federal funds made available for the Gear-Up Program and the $3,355,000 increase is to cover inflation and increases in fringe benefit costs. |
Aid To Localities |
The Executive provides an All Funds Aid to Localities appropriation of $660,347,000 reflecting a net decrease of $248,887,000 below SFY 2003-04 levels. This includes an appropriation of $604,233,000 in support of the TAP Program which represents a $259,237,000 reduction from Academic Year 2003-04 funding levels and a $302,400,000 reduction from estimated TAP expenditures in the 2004-05 Academic Year. |
The Executive's proposal would alter the TAP Program by creating two components of the TAP Award. First, students would be eligible to receive a TAP base award which is equivalent to only two-thirds of what current law would provide. Students would then be required to self-finance the remaining one-third of their TAP award through Federal and State student loan programs. Upon the completion of an approved college degree program, students would become eligible to receive a TAP Performance Award equal to the one-third up-front reduction of their TAP award inclusive of accrued interest that resulted from the need to enter into additional student loans. |
In addition, the Executive proposes to create a new TAP Loan Program of $11,500,000 to ensure that students that have exhausted their Federal student loan eligibility will have the ability to access necessary student loans through this newly created State loan program. |
The Executive maintains funding for the Aid for Part-Time Study Program at the SFY 2003-04 level of $14,630,000. |
The Executive recommends $20,768,000 for various scholarship and fellowship programs administered by the Corporation, which represents a reduction of $1,150,000 from SFY 2003-04 levels. Although $1,700,000 in new awards will be administered for the new Military Enhanced Recognition, Incentive and Tribute (MERIT) Scholarships, there is a savings of $2,900,000 due to the phasing out of the Regents Health Care Opportunity Scholarships Program, the Regents Professional Opportunity Scholarship Program, and the Regents Physician Loan Forgiveness Program. An additional $4,000,000 to maintain support for the Volunteer Recruitment Service Scholarships Program is also proposed. |
The adjusted appropriation includes a recommended deficiency appropriation of $33,900,000 for the Corporation to accommodate a larger than projected enrollment in the TAP Program and higher average award levels. |
Article VII |
The Executive proposal includes Article VII language providing for the implementation of the one-third reduction of all TAP Awards, the creation of a new TAP Performance Award, and the creation of a new TAP Loan Program. |
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