Higher Education Services Corporation, New York State
skip breadcrumbsAgency Web Site: http://www.hesc.ny.gov/
Mission
The Higher Education Services Corporation (HESC) provides centralized processing of student financial aid programs. HESC administers the State’s Tuition Assistance Program (TAP), the Federal Family Education Loan Program and other State and Federal aid programs.
Budget Highlights
The 2013-14 Executive Budget recommends $1.13 billion in All Funds support for HESC, including $1.01 billion (90 percent) from the State's General Fund. The 2013-14 funding level represents a $16.3 million increase from the prior year. The increase is associated with additional costs for TAP, partially offset by decreases in HESC's administrative expenses.
The Executive Budget recommends a workforce of 447 FTEs for HESC, which reflects a decrease of 13 FTEs from current estimates for 2012-13. Due to the 2009 changes to federal law, HESC is no longer securing new loans within the Federal Family Education Loan Program; as a result, HESC has downsized its workforce through attrition to adjust to its reduced loan portfolio and remain financially solvent.
For more information on this agency's budget recommendations located in the Executive Budget Briefing Book, click on the following link:
Briefing Book – Higher Education (PDF)
| Category | Available 2012-13 |
Appropriations Recommended 2013-14 |
Change From 2012-13 |
Reappropriations Recommended 2013-14 |
|---|---|---|---|---|
| State Operations | 91,751,000 | 87,804,000 | (3,947,000) | 5,749,351 |
| Aid To Localities | 1,025,757,000 | 1,046,018,000 | 20,261,000 | 0 |
| Total | 1,117,508,000 | 1,133,822,000 | 16,314,000 | 5,749,351 |
| Program | 2012-13 Estimated FTEs 03/31/13 |
2013-14 Estimated FTEs 03/31/14 |
FTE Change |
|---|---|---|---|
| Administration | |||
| Special Revenue Funds - Other | 460 | 447 | (13) |
| Total | 460 | 447 | (13) |
Note: Most recent estimates as of 01/22/2013