Higher Education Services Corporation, New York Stateskip breadcrumbs
Agency Web Site: https://www.hesc.ny.gov/
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.
The 2014-15 Executive Budget recommends $1.14 billion in All Funds support for HESC, including $1.02 billion from the State's General Fund. The 2014-15 funding level represents a $9.97 million increase from the prior year. The increase is primarily associated with additional costs for TAP and scholarship programs.
The 2014-15 Executive Budget includes funding for a new Science, Technology, Engineering and Mathematics (STEM) scholarship program. Full tuition scholarships to any SUNY or CUNY college or university will be offered to the top 10 percent of high school graduates if they pursue a STEM career and work in New York for five years. The scholarship will encourage the best and brightest students to pursue STEM college degrees and build their careers here in New York in one of the fastest-growing sectors of the economy.
The Executive Budget recommends a workforce of 292 FTEs for HESC, which reflects a decrease of 12 FTEs from current estimates for 2013-14. 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:
|Aid To Localities||1,046,018,000||1,056,109,000||10,091,000||0|
|Special Revenue Funds - Other||304||292||(12)|
Note: Most recent estimates as of 01/20/2014