The Common Manual Governing Board, of which the New York Higher Education Services Corporation (HESC) is one of 36 participants, has recently approved several policies in Batch #148 to modify the Common Manual. The electronic Common Manual is linked through the HESC’s Web site and has been updated to include these changes. Please pay particular attention to the effective date of each policy change.

The following table includes a listing of revised policies in Batch #148 for your information. For additional details about these changes, click on “Learn More” to view the approved policies.

HESC offers no specific comments or operational effects related to these policies.

Please direct questions regarding this bulletin to the Office of Counsel & Regulatory Compliance at 518-473-3986, toll free at 1-866-431-HESC (1-866-431-4372), press 6, or via email at askpolicy@hesc.org


Policy Changes Batch 148 – Approved March 20, 2008
  • Converting Stafford Loans to Repayment
  • Using Current-Year Title IV Funds to Pay Minor Prior-Year Changes
  • Eligible Lender Trustee Relationships
  • Refusing to Certify a Loan or Reducing Borrower Eligibility
  • Stafford Annual Loan Limits for Transfer Students
  • Rehabilitation of a Defaulted Loan
  • PLUS MPN with Endorser
  • Obtaining a Subsequent Consolidation Loan