Going to College Can Help You Build Economic Security

College is one of the surest ways to enhance the economic security of New York’s working families and assist those who are work-capable of finding greater opportunities in today’s workforce. Covering the cost of a higher education should not stand in anyone’s way.

The New York State Higher Education Services Corporation (HESC) offers programs and information that help individuals and families pay for college.

Federal Grants and Loans

Start by completing the Free Application for Federal Student Aid. The FAFSA is the first step in the financial aid process. You must fill out the FAFSA to apply for federal student financial aid, such as the Pell Grant, student loans, and college work-study. New York State’s Tuition Assistance Program (TAP) and most colleges use your FAFSA to make their financial aid awards as well.

TAP

The Tuition Assistance Program (TAP), New York’s largest grant program, helps eligible New York residents attending in-state postsecondary institutions pay for tuition. TAP grants are based on the applicant’s and his or her family’s New York State net taxable income.

Student Loan Repayment

Payment Problems
You are responsible for repaying your student loans, even if you don’t graduate, can’t find work or become unemployed.

If you are having trouble making your student loan payments, don’t panic. There are several options to help you avoid defaulting on your student loan, including deferments, forbearances and loan consolidation.

Contact the Delinquency Resolution Team to review your options at 1-800-888-0741 or defaultprevention@hesc.ny.gov.

Loan Default Center
Even if you have defaulted, there is still help available. HESC representatives will work with you to get your loan back to repayment status and avoid the consequences of default. Reasonable and affordable repayment plans take your economic situation into consideration.

Call a HESC representative toll free at 1-866-991-HESC (4372).