New York Students: Low-Cost Loans Now Available to Help Pay Spring Semester Expenses

ALBANY, NY (12/18/2009)(readMedia)-- The New York State Higher Education Services Corporation (HESC) today reminded New York State students and families who still have outstanding college expenses for the coming spring term that low-cost, fixed rate New York Higher Education Loan Program (NYHELPs) loans are now available. Students enrolled in the 51 participating colleges and universities may borrow up to $10,000 for the spring 2010 term, after exhausting all other State grant aid and most federal aid.

With fewer lending options available to families in recent years, NYHELPs education loans are designed to fill the gap between college costs and available financial aid, at a rarely found low-cost, fixed rate. To protect against over-borrowing, students and families must consider grants, scholarships and federal loans before applying for a NYHELPs loan.

Participating colleges and universities on Long Island are:

• Adelphi University
• Dowling College
• Five Towns College
• Long Island University Center
• Molloy College
• St. Joseph's College Suffolk

The complete list of participating colleges, as well as additional information about NYHELPs, including instructions for applying for a loan, can be found at HESC.org/NYHELPs.

About HESC: The New York State Higher Education Services Corporation is the State's student financial aid agency, providing more grant and scholarship awards to students than any other state in the nation. In 2008-09, HESC helped nearly 600,000 students achieve their dream of attending college by providing $4.6 billion in grants, scholarships and loan guarantees, including $813 million awarded through the Tuition Assistance Program (TAP) to more than 375,000 students. HESC also assists schools and students with advanced default prevention, financial literacy and counseling programs, and provides training and technical services to college financial aid administrators, high school counselors.

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