Electronic Funds Transfer (EFT) from HESC is the quickest, easiest method for disbursing funds because we do all the work and can be a school's single point of contact for all disbursements and returns.

We can serve as a central disbursing agent for FFEL loans, alternative loans and New York’s 529 College Savings Program funds to schools.

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, our Electronic Financial Aid Network (EFAN) layouts, or our Web-based EFT refund process.

EFT Express

EFT Express is a flexible option that gives schools more control over the timing of FFEL disbursements and simplifies their processing. Financial aid administrators can determine which loans should be disbursed each day, inform HESC of their choices, and receive funds the next morning. It’s that simple.

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 alternative education loans as well as FFEL loans guaranteed by HESC and other guarantors.

With EFT Escrow, the lender initiates disbursements through HESC.

Electronic Funds Refund (EFR)

Our EFR service is the simplest, fastest way for funds to be returned because it allows schools to return funds to lenders through a single, secure source. Now, instead of making multiple refunds to multiple lenders, schools can send a single transaction to HESC and we'll return the funds to each lender.

e-Desk

HESC’s e-Desk is a suite of products for processing loans and receiving disbursements for schools without extensive IT resources.

These products, which include e-MPN, EFT Express and Guarantor Flow, are fast, accurate and easy-to-use, providing instant guarantee and electronic disbursement, as well as convenient, downloadable customized reports.

By using e-Desk, schools will choose the latest electronic process and help their students with the ease of applying online.