Application Process
Applying for a NYHELPs loan is quick and easy.
Select a loan and complete the application and promissory note.
Credit approval is instantaneous.
Your college’s financial aid administrator certifies your eligibility.
Loan funds are paid right to your college.
Apply
The NYHELPs application process generally takes
less than a day for a borrower and any cosigner to complete the application, receive an initial eligibility decision, and e-sign the promissory note.
- Check the list of participating colleges to be certain yours is on the list.
- Have the following information ready before beginning your application.
- Social Security Number
- Telephone numbers
- Current mail and email addresses
- Two personal references
- Employment information (names, addresses, phone numbers, previous employers and lengths of employment)
- Student's family annual gross income information
- Requested loan amount
- Cosigner(s)' name and email address
- You’ll apply online. Borrowers and cosigners will be prompted to enter a HescPIN -- the same one you used when you applied for a Tuition Assistance Program (TAP) grant. Each person must have his or her own; HescPINs cannot be shared.
- You'll be directed to complete a required tutorial to sharpen your borrowing knowledge.
- View the NYHELPs application disclosure.
Sign
- You’ll sign your promissory note electronically using your HescPIN. While e-signing your promissory note, consider opting into Firstmark's (the NYHELPs Servicer) e-correspondence process. This will enable the Servicer to communicate with you electronically and expedite the process.
- Once you’ve signed, Firstmark will notify any cosigner by email.
- Fax, email or mail required supporting documentation to Firstmark -- they will process the documentation within three days of receipt.
- Federally-required loan disclosure and self-certification forms are sent to you for completion. Once returned to Firstmark, forms are procesed within three days of receipt.
Verify
- HESC verifies your and any cosigner’s information.
- Your college certifies the loan.
Disburse
- Once your loan is approved, the loan proceeds are sent electronically to your college.
- Your college will apply the funds to your student account (within 10 days before the start of classes).
- Your college will forward any remaining funds to you (for rent, books or other costs related to attending college).
