The New York State Higher Education Services Corporation (HESC) has released its 2023-24 Annual Report (https://www.hesc.ny.gov/about/reports-financial-statements/), underscoring New York’s continued commitment to make higher education accessible and affordable for students and families statewide. The report highlights major accomplishments, partnerships, and expanded resources that have bolstered financial aid and services, ensuring that New Yorkers have the support they need to achieve their higher education goals.
Through innovative programs and a dedicated statewide network of partnerships, HESC continues to make critical strides in providing students with comprehensive resources, outreach, and financial aid guidance to successfully navigate college and career pathways.
Key highlights from the report
•Expansion of the New York State Tuition Assistance Program (TAP): Celebrating 50 years, TAP has awarded over $30 billion to more than 6 million New York students, including nearly $698 million in aid to 255,000 students in the 2023-24 academic year alone. Recent expansions, including support for part-time and non-degree studies, enable even more students to access financial aid.
•Scholarship and Award Programs: In the 2023-24 academic year, HESC awarded nearly $170 million through 18 targeted scholarship and award programs, including veterans and high-achieving students. New initiatives like the NYS Healthcare Workers for Our Future Scholarship aim to tackle healthcare professional shortages, while the Senator José Peralta New York State DREAM Act continues to open pathways to higher education for thousands of students throughout the state.
•NYGEAR UP: In its second year of a grant received in 2022, the NYGEAR UP program provides critical support to over 6,400 low-income students in New York. This year, NYGEAR UP hosted an Annual Conference focusing on college and career planning and a Youth Summer Leadership Camp designed to equip students with essential technical skills and foster their interest in STEM fields.
•TAP Difference Report: HESC released a study that analyzed six-year outcomes of TAP recipients who are 2.2 times more likely to graduate from four-year colleges compared to non-TAP students.
•Outreach and Support Initiatives: HESC launched a fully redesigned website that saw over 400,000 visitors in the first month of launch, with total agency website traffic of more than 2.4M for the reporting year. Additionally, through expanded collaborations, HESC hosted a record 230 events – resulting in a 200% increase in participation compared to the previous year, and increased its active newsletter subscriptions to over 600,000 subscribers, allowing HESC to send vital financial aid information to those who need it most.
HESC’s 2023-24 Annual Report captures New York’s progress toward making higher education a reality for every student and family, reaffirming its commitment to breaking down financial barriers and setting a national standard for accessible, affordable education. For more information on the grant, scholarship, and loan forgiveness programs that HESC has available, visit http://hesc.ny.gov.
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