2023 New York Laws › EDN - Education › Title 1 - General Provisions › Article 14 - New York State Higher Education Services Corporation › Part 2 - Student Financial Aid › Sub Part 2 - General Awards › 669-G - The New York State Achievement and Investment in Merit Scholarship (Ny-Aims).

§  669-g.  The  New  York  state  achievement  and investment in merit
scholarship (NY-AIMS). 1. Purpose. The New York  state  achievement  and
investment  in merit scholarship (NY-AIMS) is hereby established for the
purpose of granting merit based scholarship awards  to  New  York  state
high school graduates who achieve academic excellence.
2. Eligibility. To be eligible for such awards, an applicant must have
graduated  from  a  New  York state high school, enrolled in an approved
undergraduate program of  study  in  a  New  York  state  post-secondary
institution  beginning in the two thousand fifteen--two thousand sixteen
academic year or thereafter, and achieved at least two of the  following
during high school:
a. graduated with a grade point average of 3.3 or above;
b.  graduated  with  a  "with  honors" distinction on a New York state
regents diploma or received a score of  3  or  higher  on  two  or  more
advanced placement examinations; or
c.  graduated  within  the  top  fifteen  percent of their high school
class, provided that actual class rank may be taken into consideration.
3. Priority. a. Such awards shall be made to  eligible  applicants  in
the following priority:
(i)  first,  to  applicants  who  have  received  payment  of an award
pursuant to this section in a prior year and  remain  in  good  academic
standing; and
(ii) second, to applicants in descending order based on the unmet need
to  reach  the full cost of attendance as indicated on the financial aid
award letter.
However, in the program's first  year,  first  priority  shall  be  in
accordance with subparagraph (ii) of this paragraph.
b.  In  the  event  that  there  are more applicants who have the same
priority than there are  remaining  scholarships,  the  president  shall
distribute  the  remaining  number  of  such  scholarships by means of a
lottery or other form of random selection.
c. In each year, the awards made shall be proportionate to  the  total
applications  received  for students accepted for undergraduate study at
public and private not-for-profit degree granting institutions.
4. Awards. Within amounts appropriated therefor, the  president  shall
grant  an  annual  award  to  eligible applicants on a competitive basis
pursuant to subdivisions two and three of this section in the amount  of
five   hundred  dollars  for  not  more  than  four  academic  years  of
undergraduate study, or five academic years, if  the  program  of  study
normally  requires five years as defined by the commissioner pursuant to
article thirteen of this chapter. Up to  five  thousand  awards  may  be
granted to new recipients annually.
5.  Offset.  Such  awards  may be used to offset the applicant's total
cost of attendance determined for federal Title IV student financial aid
purposes.
6. Rules. The  corporation  is  authorized  to  promulgate  rules  and
regulations, and may promulgate emergency regulations, necessary for the
implementation of the provisions of this section.