HESC Waives Loan Fee for Ninth Year in a Row
John Austin
College students in New York State will save millions this year in loan fees because HESC will pay the one percent default fee (formerly called the insurance fee) for the ninth year in a row. For students, this decision will represent a savings of over $29 million this year. Since 1999, HESC’s actions have saved New York students more than $150 million.
Helping people pay for college is our motto and our mission. Our decision to pay the default fee traces its roots to that mission.