HESC Appoints Elsa Magee as Senior Vice President of Corporate Operations
Joanne Razzano
HESC welcomes Elsa M. Magee, who has recently been appointed Senior Vice President of Corporate Operations at the agency.
Elsa oversees the agency’s grants, scholarships, and loan operations, as well as its collections and default management functions. Among her key responsibilities is oversight of the New York Tuition Assistance Program (TAP). Now in its 33rd year, TAP continues to be the largest need-based student grant program in the country.
HESC’s default recovery rate has vaulted to 13th among guarantee agencies in four years. This stellar rise in national ranking is a testament to the effectiveness of HESC’s reorganization of its collections and default management operation, which Elsa will now administer.
Looking forward to guiding HESC’s corporate operations, Elsa said, “Changes in our industry always lead to opportunities; my role is to help make HESC ready to take advantage of those opportunities when they arise.”
Serving most recently as Principal Budget Examiner in the New York State Division of the Budget (DOB), Elsa brings seventeen years experience in budget and financial analysis to HESC. At the DOB, she was responsible for monitoring the budgetary activities of the $1.7 billion operating budget and the $1.9 billion capital budget of the City University of New York, along with the $174 million in operating and categorical assistance for the six CUNY community colleges. She also developed the $558 million budget and monitored program activities for the New York State Education Department.
“We welcome Elsa and are pleased to have someone with her expertise and involvement with higher education join the agency,” said HESC President James C. Ross. “Her high degree of experience with financial analysis, along with a great deal of involvement in both state and federal government processes, will be a great asset to HESC and the students and families this agency serves.”
Elsa graduated magna cum laude with a Bachelor’s of Science degree in Business Administration from the University at Albany-SUNY and earned a Master’s of Science degree in Urban and Environmental Studies from Rensselaer Polytechnic Institute, in Troy, New York.