NY Becomes 1st State to OK Free Tuition at Public Colleges for Eligible Students

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You get a degree! Everybody gets a degree! New York just cleared the way to become the first state in the United States to make tuition free for middle- and low-income students at two- and four-year public colleges.

Gov. Andrew Cuomo first introduced the plan in January, with lawmakers agreeing to include it in the state budget. Over the weekend, that budget was approved by the Assembly Saturday and by the Senate Sunday night. Cuomo is expected to officially sign the budget bills, according to CNN Money.

The plan will be phased in over three years, with tuition being free for residents who earn up to a specific income cap.

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In the fall, undergrad students who attend State University of New York or City University of New York schools will be eligible for the Excelsior Scholarship if their families earn no more than $100,000 a year. That cap will lift to $110,000 the next year and ultimately reach up to $125,000 in 2019.

Read more here.