Overview
The Higher Education Services Corporation (HESC) administers New York State’s college financial aid programs, including grants, scholarships, and loan forgiveness programs. It is governed by a Board of Trustees that was established in 1974 by NY Education Law § 652. The Board’s powers and duties are outlined in NY Education Law § 653. HESC’s Board of trustees governs the agency, and is responsible for producing annual reports, submitting annual budget requests, and exercising its corporate powers.
Membership
HESC’s Board of Trustees consists of 15 members, including the commissioner of education, the chancellor of the State University of New York (“SUNY”), the chancellor of the City University of New York (“CUNY”), the president of the SUNY student assembly, and the chair of the CUNY student senate, who serve as ex-officio members. In addition, nine members are appointed by the Governor with the advice and consent of the Senate, and one SUNY community college student is appointed by the Governor without Senate confirmation. The members appointed by the governor represent New York State banking institutions, independent colleges, licensed private career schools, college financial aid officers, students, and members of the public.