Disbursement Options

HESC can be your single point of contact for all disbursements ─ NYHELPs, alternative loans, and New York's 529 College Savings Program funds to any number of bank accounts.

Electronic Fund Refunds (EFR)

Refunds are processed automatically through our Web-based refund process, Electronic Funds Refund (EFR). EFR is the simplest, fastest way for funds to be returned because it allows you to return funds through a single, secure source. Instead of making multiple refunds to multiple lenders, you can send a single transaction to HESC and we'll return the funds to each lender.

Loans PUT to the Education Department
When sending refund checks for loans that have been PUT to the Education Department, colleges must include the proper transmittal form with their refund checks. Please refer to the following chart for the address of where to send your refund.

Destination Addresses for PUT Loan Refunds
If the servicer code on a loan is:	The servicer name is:	Refund should be sent to:
700577	ACS	Department of Education PO Box 7063 Utica, NY 13504-7063 Attn: Kim Hatzinger and Shawn Hughes
700578	Sallie Mae	Department of Education PO Box 7401974 Atlanta, GA 30374-1974
700579	PHEAA	Department of Education PO Box 530210 Atlanta, GA 30353-0210
700580	Nelnet	Department of Education PO Box 530232 Atlanta, GA 30353-0232
700581	Great Lakes	Department of Education PO Box 530229 Atlanta, GA 30353-0229