Higher Education Services Corporation, New York State

Agency Web Site: https://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.

Organization and Staffing

HESC is governed by a Board of Trustees comprised of 15 members. Ten members are appointed by the Governor and confirmed by the Senate, the remaining five members serve in an ex-officio capacity and consist of the SED Commissioner, SUNY Chancellor, CUNY Chancellor, SUNY Student Assembly President, and Chair of the CUNY Student Senate. Daily operations are managed by HESC’s President and senior administrative staff.

Budget Highlights

The FY 2018 Executive Budget recommends $1.2 billion in All Funds support for HESC and projects a workforce of 220 consistent with FY 2017 levels

The FY 2018 funding level represents a $41 million net increase from the previous year reflecting a new free tuition program named the Excelsior Scholarship offset in part by estimated enrollment changes in the Tuition Assistance Program and scholarships.

The Executive Budget includes a new Excelsior Scholarship Program, a first in the nation tuition-free degree program that will enable students to attend tuition free for working and middle-class families making up to $125,000 annually. To qualify for an Excelsior Scholarship, students must be a resident of New York and be on track to complete their chosen degree in two or four years. Funding for the award fully covers the cost of tuition after TAP, Pell and other financial aid awards are applied.

The FY 2018 Executive Budget supports the advancement of undocumented immigrants by enabling them to apply for state financial assistance under a DREAM Act.

The FY 2018 Executive Budget also continues funding for the Get On Your Feet Loan Forgiveness Program, which provides federal student loan relief to New York residents who graduate from college and continue to live in the State for the first two years out of school if their income is not high enough to cover their student debt burden without significant financial hardship.

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)

Program Highlights

New York State Tuition Assistance Program (TAP)

TAP is one of the largest need-based grant programs in the nation, and the cornerstone of New York’s student financial aid programs. In 2015-16, more than 355,000 New Yorkers attending college were awarded more than $956 million in TAP funds to help pay their college tuition costs – with an average annual award of $3,302 per recipient.

Targeted Scholarship, Loan Forgiveness and Award Programs

During 2015-16, HESC-administered State scholarship and loan forgiveness programs provided tens of thousands of students with targeted awards towards their pursuit of a college education, with over $57.5 million going to support the college costs of more than 37,000 students. The Get on Your Feet Loan Forgiveness Program provides Federal student loan relief to New York residents who graduate from college and continue to live in the state for the first two years out of school if their income is not high enough to cover their student debt burden without significant financial hardship.

Note: Most recent estimates as of 1/17/2017