Peter Vallone scholarship revoked

A useful financial boost for college students and an effective incentive for those graduating from high school will no longer be in effect.

Cuts to the NYC Budget have, as of now, eliminated the Vallone Scholarship, which was awarded to students who graduated from a New York City high school with at least a B average. What once began as a generous grant of $1,400 per semester, slowly dwindled down over the years to a measly $250.

It's because of the small amount that Scholarship Coordinator Jennifer Salas believes it won't affect students that much.

"I think in general the students are ok because most of the students were getting very getting a very nice scholarship; they were getting full financial aid," Salas said.

She does agree however, that some students could use this money more than others.

"For some students it was able to help," Salas said. "For example in the case of the undocumented or the international students, they were able to [get some help from the scholarship]."

Though not a large sum, it was, in certain instances, enough to cover various scholastic expenses such as textbooks, calculators, etc. and is primarily what most recipients appreciated it for.

"I definitely think it helped students pay off expenses like textbooks," said Melissa Lok. "And it was a good scholarship; I think they should reinstate it."

This isn't the first time the scholarship is experiencing hardships. It's very history is like a rollercoaster, rising and dropping depending on budget cuts. At one point, in 2005, the scholarship had received a 20 percent increase and went from $1,000 to $1,200 dollars.

"It all depends on how much money the city will have available," Salas said.

"I think it is important to a lot of students especially Baruch students," Lok said. "It was a good incentive for them to do well and it would really help them out."