Higher Education Services Corporation, New York State

Agency 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 2015-16 Executive Budget recommends $1.19 billion in All Funds support for HESC, including $1.12 billion from the State's General Fund. The 2014-15 funding level represents a $27.8 million increase from the prior year. The increase is primarily associated with additional costs for TAP and scholarship programs.

The 2015-16 Executive Budget expands student financial assistance to include undocumented immigrant students by enabling them to apply for state financial assistance under a DREAM Act.

The 2015-16 Executive Budget also includes funding for a new Get On Your Feet Loan Forgiveness Program, which will provide 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.

The Executive Budget recommends a workforce of 276 FTEs for HESC, which reflects a decrease of 9 FTEs from current estimates for 2014-15. Due to 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.

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)

ALL FUNDS
APPROPRIATIONS
(dollars)
Category	Available 2014-15	Appropriations Recommended 2015-16	Change From 2014-15	Reappropriations Recommended 2015-16
State Operations	92,680,000	73,151,000	(19,529,000)	11,036,000
Aid To Localities	1,076,334,000	1,123,639,000	47,305,000	1,000,000
Total	1,169,014,000	1,196,790,000	27,776,000	12,036,000

ALL FUND TYPES
PROJECTED LEVELS OF EMPLOYMENT BY PROGRAM
FILLED ANNUAL SALARIED POSITIONS
Program	2014-15 Estimated FTEs 03/31/15	2015-16 Estimated FTEs 03/31/16	FTE Change
Administration
Special Revenue Funds - Other	285	276	(9)
Total	285	276	(9)

Note: Most recent estimates as of 01/21/2015

Click for additional detailed appropriation tables

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