Loan Processing Updates

The New York State Higher Education Services Corp. (HESC) announces recent updates to loan processing functions available through HESC’s Website.

New School Function

Schools now have the ability to create a school e-MPN unsubsidized loan request message.

When a parent applies for a PLUS loan and is denied because of adverse credit, HESC asks the parent if the student would like to apply for an unsubsidized Stafford loan. Now, a school-specific message can be displayed with instructions to the borrower. For example, your school’s message may instruct the student to visit or call the financial aid office.

The variable school message would be located at the bottom of the borrower screen displayed below.
Screen shot of school e-MPN unsubsidized loan request message screen location.

Schools that choose to display a message have the ability to update the message online.

Go to HescWeb, select Transaction Processing, click on School tab, choose View/Update School Customized e-MPN Unsub Loan Request Message. You can then view the message currently stored for your school.

Change an existing message or create a new one if none exists by clicking on "Update." The update button will only appear if you have update permission to this function.

The message will be displayed to any borrower who is denied a PLUS loan due to adverse credit.

New Function Listed Under Borrower Tasks

Schools now have the ability to determine whether HESC has returned a Master Promissory Note (MPN) to a borrower, school or lender by selecting View Returned MPNs listed under the borrower task in Transaction Processing.

Displayed will be the specific reason HESC returned the MPN and the date the MPN was returned. To search for a specific MPN, enter either the borrower or student SSN; or the borrower or student last name and first name.

New Lender Function

HESC has the ability to display a lender-customized SLATE-related e-MPN message for borrowers. The message will appear when the borrower selects a specific lender code while completing the e-MPN.

To enter a customized message, log into Transaction Processing, click on the Lender tab and then on View/Update Lender Customized e-MPN Message.

You may view the current message on our system, make changes to the message or, if no message exists, click the update button and enter the message on the next Web page. The update button will only appear if you have update permission to this function.

Although HESC is providing the ability for lenders to display a specific SLATE-related message, it is each lender's responsibility to maintain this message.

Questions or Comments

Please direct questions or comments regarding the use of HESC electronic products or services to Priority Services at priorityservices@hesc.org. Direct any technical problems with HESC’s electronic services to the Help Desk at 1-866-431-HESC (4372) and follow the menu prompts.