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 #155 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 the revised policies in Batch #155 for your information. Click on “Learn More” to view the approved policies.

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

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 #155 – Approved January 15, 2009
  • Eligible Lender – Eligible Financial Institution
  • New School-as-Lender Audit Requirement
  • Lender Consumer Reporting Requirements
  • Lenders of Last Resort (LLR) Changes
  • Drug Conviction Notices
  • Multiple School Enrollment
  • Teacher Education Assistance for College and Higher Education (TEACH) Grants