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2023 Financial Condition Report

For Fiscal Year Ended March 31, 2023

Higher Education

2023 Financial Condition Report
For Fiscal Year Ended March 31, 2023

Enrollment

  • In academic year 2022-23, New York State public and private higher education institutions enrolled 777,838 full-time and 334,247 part-time students.
  • Full-time equivalent (FTE) enrollment at public institutions decreased in 2022-23 by almost 17 percent compared to 2018-19 and by 19.5 percent compared to 2013- 14. Private sector FTE enrollment decreased marginally from the prior year.
  • The State has a higher proportion of private college attendance than most states, or 45 percent compared to 22 percent of students nationwide in Spring 2023, according to the National Student Clearinghouse.
Line chart of Full-Time Equivalent Enrollment - New York State
Line chart of Student Loan Debt Balance Per Capita

Costs and Financial Assistance

  • Average costs of tuition and fees for full-time, in-state students for the State and City University of New York (SUNY and CUNY) in 2022-23 were:
    • SUNY, $8,810 ($6,025 for two-year colleges); and
    • CUNY, $7,190 ($5,060 for two-year colleges).
  • In the 2021-22 academic year, an estimated 236,729 students received State Tuition Assistance Program (TAP) awards, totaling $719 million. New York State also provided an estimated 53,111 other scholarships and awards totaling almost $182 million in aid, including 29,610 Excelsior scholarships totaling $126.5 million. The New York State 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 2017-18 to 2022-23 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 $7,930 to $8,556, 7.9 percent, in New York and from $9,980 to $10,940, 9.6 percent, for the United States overall.

  • The percentage of student loan debt balance in New York State that was 90 or more days delinquent (and in default) was 0.96 percent in 2022, down from 4.5 percent in 2020 and 8.6 percent in 2018. New York’s figure is marginally higher than the national average in 2022 (0.87 percent).