Read What Others are Saying About NYHELPs
NYHELPs testimonials from parents, students, and college presidents:
Parent of NYU student:
As a parent of two college students in both private and public schools, I am grateful for Governor Paterson's initiative, the New York Higher Education Loan Program, that could provide approximately 45,000 New Yorkers with at least $350 million in low-cost student loans annually if passed by New York's Legislature. Increasing access to student loans makes good sense, especially in these challenging economic times!
College student parent:
I am in favor of the newly proposed NY higher education loan program. As a mother of a college student and as a college professor I am intimately aware of the importance of sources of financial assistance to students.
Parent of Hofstra U student:
As a parent and frequent co-signer, I am enthused by the possibility of lower cost loans for my children, 3 of whom are of college age. I am hoping for quick passage so I can take advantage of this program this summer when another round begins.
Parent of SUNY student:
As a parent with 2 children in college and another who will be in college in 2 years, I am very concerned about financing their education. The majority of the financial burden will fall on my children since we do not have the means to contribute any significant amount to their education. We are among the middle class just trying to keep up with our own bills, and finding it very difficult to save anything extra. Any assistance that can be provided for more affordable loans for college students will encourage many of our young, bright population of young adults to pursue higher education. An educated population will help to keep our country globally competitive, and I enthusiastically support any efforts made towards more affordable loans.
Here’s what some students have had to say:
Thank you for the State Student Loan Program. I am currently a senior at Marist College, and upon graduation, I face $100,000 in debt payments only for my undergraduate degree. With the American economy in trouble, I do not know how I will ever be able to pay back my loans. I am worried constantly about this problem. I thank God that you have brought this plan forward for future students. I am not sure it will help my situation of debt, but as a college student, thank you for helping New York students finance college. This is help that many students and families need.
College and University Presidents Have Also Joined the Chorus:
Fr. Vincent Cooke, President of Canisius College:
…Because fewer and fewer families are able to completely finance a student’s education, many seek out private student loans to bridge the gap between family resources, financial aid and scholarships, and the cost of an education. At Canisius College, 76 percent of our students need this type of assistance. … NYHELPs will offer up to $350 million each year in fix-rate loans to state residents who enroll at least half time in degree or professional certificate programs at participating degree-granting colleges and universities in the state. Students could receive fixed interest rates between 7.5 and 8.5 percent on these loans, which is a significant savings from market rates on private loans. Tens of thousands of students and families at public and private college and universities will benefit from this outstanding program.
Todd S. Hutton, President of Utica College
If there is a silver lining to the executive budget, it’s Governor Paterson’s endorsement of the New York Higher Education Loan Program that will expand financing access for students and families by helping students borrow for college at interest rates lower than what private, alternative loan lenders now offer. Astonishingly, NYHELPs represents the first higher education public policy initiative since that creation of TAP 35 years ago. Please encourage Albany to enact this long-overdue initiative…
From President Hutton’s letter to UC alumni.
Nancy Cantor, Chancellor and President of Syracuse University
…Knowing the economic downturn has stretched the boundaries of financial need, the governor seeks to strengthen the state’s partnership with the public and private higher education community through the new Higher Education Loan Program. This initiative will provide access to the critical funding students and families need…The governor said New Yorkers have the greatest human capital anywhere…Programs like Say Yes to Education and [NYHELPs] will help develop that precious asset and rebuild New York’s road to economic prosperity.
Link to Syracuse Post-Standard
Anthony G. Collins, President of Clarkson University; Joseph L. Kennedy, President of SUNY-Canton; John F. Schwaller, President of SUNY-Potsdam; Daniel F. Sullivan, President of St. Lawrence University
…we applaud [Gov. Paterson] for recognizing the need for new programs at a time of fiscal crisis. With this long-term, cost neutral program, he truly presents a win-win for New York. Students will have access to an affordable loan program to make their own immediate education investment in New York’s healthy mix of private and public institutions in every corner of the state…Implementation will help encourage New Yorkers to stay in New York and give them the choice to attend any college or university in the state.
Link to Syracuse Post-Standard: