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2022 Financial Condition Report For Fiscal Year Ended March 31, 2022
Enrollment
In academic year (AY) 2021-22, New York State public and private higher education institutions had 794,701 full-time and 340,884 part-time students in degree-credit enrollments.
Full-time equivalent (FTE) enrollment at public institutions decreased in AY 2020-21 by 8.5 percent compared to five years earlier and by 11.5 percent compared to 2011-12. Private sector FTE enrollment dropped by 10.5 percent compared to 2011-12.
The State has a higher proportion of private college attendance than most states, or 42 percent compared to 23 percent of students nationwide in spring 2022 according to the National Student Clearinghouse.
Online course enrollment for the State University of New York (SUNY) increased by 87.2 percent in the 2020-21 academic year from the previous period. The increase in online instruction in the 2019-20 academic year was 13.6 percent. Of the 411,936 students in the 2020-21 academic year that enrolled in online instruction, over 58 percent attended exclusively through this means and almost 42 percent used some but not all online instruction.
Costs and Financial Assistance
Average costs of tuition and fees for full-time, in-state students for SUNY and the City University of New York (CUNY) were:
SUNY (2021-22) $8,780 ($5,660 for two-year colleges); and
CUNY (2020-21) $7,405 ($5,275 for two-year colleges).
In the 2020-21 academic year, an estimated 250,221 students received New York State Tuition Assistance Program (TAP) awards, totaling $701.8 million. New York State also provided an estimated 57,871 other scholarships and awards totaling almost $196 million in aid, including 32,940 Excelsior scholarships totaling $137.3 million. The TAP provides grant awards to eligible New York residents for paying tuition at a SUNY, CUNY or not-for-profit independent degree-granting college in New York State. For eligible students, the Excelsior Scholarship Program covers any remaining tuition expenses at SUNY or CUNY after other federal and State grants and scholarships have been applied.
The increase from 2016-17 to 2021-22 in average in-state tuition and fees at public four-year colleges has been slightly more modest in New York compared to the nation. These amounts grew from $7,710 to $8,550 in New York and from $9,650 to $10,740 for the United States overall.
In SFY 2021-22, the State spent $300 per resident on higher education, ranking 22nd in the nation for higher education spending per capita.
According to the Federal Reserve, the average balance for student loan borrowers in the State grew by 16.8 percent from 2017 to 2021, slower than the 17.2 percent rate of growth for the nation during the same period. The percent of student loan borrowers in New York State that were 90 or more days delinquent (and in default) was 4.8 percent in 2021, down from 6.6 percent in 2020 and 12 percent in 2017. These figures are lower than national averages of 7.5 percent in 2021 and 15.4 percent in 2017. The 2020 and 2021 figures reflect federal COVID-19 emergency flexibilities that include a suspension of federal student loan payments, zero percent interest rate and stopped collections on defaulted loans extended through December 31, 2022.
