HESC Empire Funding

Electronic Funds Transfer (EFT) -- including EFT Escrow and Electronic Funds Refund -- is the quickest, easiest method for disbursing funds because HESC does all the work and can be your single point of contact for all disbursements and returns.

EFT Escrow

EFT Escrow is a safe, secure, efficient disbursement method. It provides schools with one disbursement source from multiple lenders. HESC acts as a central disbursing agent for NYHELPs, other alternative loans and New York’s 529 College Savings Program funds to schools.

With EFT Escrow, the lender initiates disbursements through HESC.

We provide customized reports on future disbursements of loans in hold or release status. EFT disbursements and cancellations are immediately updated on our system when the funds are sent. Refunds are processed automatically with CommonLine, or our Web-based EFT refund process.

Electronic Funds Refund (EFR)

Our EFR service is the simplest, fastest way for funds to be returned because it allows your school to return funds to lenders through a single, secure source. Now, 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.