HESC Board of Trustees
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.
Contact Information
New York State Higher Education Services Corporation
99 Washington Ave., 13th Floor
Albany, NY 12255
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(518) 474-9559
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.
Required Reporting
In accordance with NY Education Law § 653, the Board of Trustees is required to submit on or before November first of each calendar year an annual report to the board of regents, the governor, the temporary president of the senate, the speaker of the assembly, the senate finance committee, the assembly ways and means committee and the standing committees of the legislature having jurisdiction of higher education.
Expenses
Board members do not receive compensation but are eligible for reimbursement of any actual expenses incurred to attend meetings.
Total expenses/compensation incurred in prior fiscal year: $0
Total expenses/compensation projected for current fiscal year: $1,500
Total expenses/compensation projected for next fiscal year: $3,000