Applications are now being accepted for the Excelsior Scholarship, which offers taxpayer-subsidized college tuition to families making less than $100,000 per year.

Recipients of the may receive up to $5,500 or actual tuition, whichever is less, according to Gov. Andrew Cuomo’s office. The maximum scholarship will be reduced by the amount of certain other student financial aid awards which an applicant has or will receive for the academic year including a New York State Tuition Assistance Program (TAP) award or federal Pell grant, Cuomo’s office said.

Recipients are eligible to receive award payments for not more than two years of full-time undergraduate study in a program leading to an associates degree or four years of full-time undergraduate study, or five years if the program of study normally requires five years in a program leading to a bachelors degree, Cuomo’s office said.

Recipients must live in New York state for the length of time they receive the award. Failure to meet these requirements will result in the conversion of the award to a no-interest loan, Cuomo said.

Application deadline is July 21.

Applicants will need:

• Copies of 2015 New York state income tax return(s) filed by the student and their parent(s) or spouse, as applicable

• A current unofficial college transcript showing the number of credits the student has earned each year prior to applying for this program, if they have previously attended college.

• A Student Aid Report (SAR), which is received when filing a completed FASFA.

An applicant must:

• be a resident of NYS and have resided in NYS for 12 continuous months prior to the beginning of the term

• be a U.S. citizen or eligible non-citizen

• have either graduated from high school in the United States, earned a high school equivalency diploma, or passed a federally approved "Ability to Benefit" test, as defined by the Commissioner of the State Education Department

• have a combined federal adjusted gross income of $100,000 or less;

• be pursuing an undergraduate degree at a SUNY or CUNY college, including community colleges and the statutory colleges at Cornell University and Alfred University

• be enrolled in at least 12 credits per term and complete at least 30 credits each year (successively), applicable toward his or her degree program;

• if attended college prior to the 2017-18 academic year, have earned at least 30 credits each year (successively), applicable toward his or her degree program prior to applying for an Excelsior Scholarship;

• be in a non-default status on a student loan made under any NYS or federal education loan program or on the repayment of any NYS award;

• be in compliance with the terms of the service condition(s) imposed by a NYS award that you have previously received; and

• execute a contract agreeing to reside in New York state for the length of time the award was received, and, if employed during such time, be employed in the state.

More info, applications: https://www.hesc.ny.gov/excelsior/.