The New York State Higher Education Services Corporation (HESC) administers a number of programs that help individuals and families pay for college.

Whether you are seeking federal or New York State student aid, the place to begin the application process is with the Free Application for Federal Student Aid (FAFSA). Complete the FAFSA to apply for federal grants and loans. In addition, data from the FAFSA is used for State grant applications, such as TAP.

 

As a New York State resident, the Tuition Assistance Program (TAP) will help you pay your tuition and other college costs. TAP grants are based on your and your family’s New York State net taxable income, plus any federal, State or local pension income, if applicable.

Like TAP, other grants and scholarships are available to eligible New York State residents. Since they don’t have to be paid back, they should be your first focus when lining up money for college.

 

 

Another program for New York State residents, the New York Higher Education Loan Program (NYHELPs), gives you and your family a low-cost way to make up the difference between the cost of college and available financial aid.

First, you apply for and receive all State, federal and institutional aid you can get. If they choose to, your parents can apply for a federal PLUS loan to help you. If you still have unmet need as certified by your college, consider a NYHELPs loan to help cover it.

Unlike other private loans that offer variable rates, NYHELPs interest rates are fixed, meaning they will not change over the life of the loan. And NYHELPs interest rates are lower than the rates of other options available in the private loan market.

 

HESC offers additional services that help students and families pay for college, including:

• An award winning 529 college savings program.
• Financial literacy information and education.
• Information about tax credits and deductions associated with a college education.