Access to Student Loan Funds Continues Without Interruption
Message from HESC President James C. Ross, October 2008

Recent news stories regarding the effect of the credit crunch on the financial services industry have raised concerns about access to student loans.

We at the New York State Higher Education Services Corp. (HESC), the state agency that helps people pay for college, want to reassure New Yorkers that Federal Family Education Loans (FFEL) student loans will continue to be available through our lending partners.

I am confident the lender community will be able to meet the borrowing needs of every family that relies on federal student loans to pay for college. With many originating lenders committed to providing reliable and sound sources for federal loans, HESC will continue to guarantee and provide FFEL loans to students and families without interruption.

Students who require additional loans through the federal parent (PLUS) or private (alternative) programs should also have their needs met. Although some lenders have had difficulty, private education loans continue to be available across the country to help meet the needs of borrowers.

As students and families make plans for financing the 2008-09 academic year, they can be assured that access to their college of choice remains attainable and affordable.
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