New York State Higher Education Services Corporation – Albany, NY

Making College Affordable for New Yorkers

The New York State Higher Education Services Corporation (HESC) is the state’s student financial aid agency, headquartered at One Commerce Plaza on Washington Avenue in Albany. As a national leader in providing financial aid opportunities, HESC oversees the administration of grants, scholarships, and loan forgiveness programs that help thousands of students achieve their educational goals . The agency acts as the central hub for processing the Tuition Assistance Program (TAP), which is one of the largest state-funded student grant programs in the nation.

Scholarships and Awards

In addition to TAP, HESC manages a robust portfolio of scholarship programs designed to reward academic excellence and support specific career paths. The most prominent of these is the Excelsior Scholarship, which allows eligible New York residents to attend SUNY and CUNY colleges tuition-free. Other key initiatives include the STEM Incentive Program, which encourages students to pursue careers in science, technology, engineering, and math, and the World Trade Center Memorial Scholarship . The agency also administers loan forgiveness awards for graduates entering critical fields such as nursing, social work, and farming.

Financial Planning and College Savings

HESC partners with the Office of the State Comptroller to administer New York’s 529 College Savings Program, providing families with a tax-advantaged way to save for future education expenses. The agency’s website and outreach teams offer extensive resources on college planning, financial literacy, and the federal financial aid application (FAFSA) process . While HESC primarily focuses on distributing aid, it also services certain legacy student loans and assists borrowers in managing repayment to prevent default. The Albany office serves as the administrative center for these operations, ensuring compliance and efficient service delivery.

• Grants: Administration of the Tuition Assistance Program (TAP).
• Scholarships: Excelsior Scholarship and STEM awards.
• Savings: Oversight of the NYS 529 College Savings Program.
• Loans: Loan forgiveness programs and repayment assistance.