HESC Announces the Release 2023-2024 Annual Report

The New York State Higher Education Services Corporation (HESC) today announced the release of its 2023-24 Annual Report, 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.

Dr. Guillermo Linares, President of the New York State Higher Education Services, said, "I am pleased to share the 2023-24 HESC Annual Report, which highlights the significant strides we have made over the past year in enhancing access and affordability in higher education. Thanks to Governor Hochul's visionary leadership, HESC is supporting initiatives that empower students across our state to pursue their educational dreams. This report is a testament to our commitment to fostering opportunity and success for all New York State students."

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 2023-24 Annual 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 groundbreaking 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.

New York State Education Commissioner Betty A. Rosa said, “For 50 years, HESC has been helping New York’s students achieve their dreams of attending college. At the State Education Department, we continue to advance efforts aimed at better preparing all students for the challenges and opportunities they will encounter in college. As New York’s education leaders, we wish to send a clear message to every student who aspires to higher education: ‘We want you to attend one of New York’s world-class colleges or universities; we want you to succeed; we will support you as you follow your dream.’ The Board of Regents and I commend Governor Hochul for prioritizing the needs of all students across the state.”

SUNY Chancellor John B. King, Jr. said, “There is a place at SUNY for every New Yorker, and thanks to the Tuition Assistance Program and other financial aid programs, 52% of undergraduate New Yorkers are able to attend SUNY tuition-free. As a result of Governor Hochul’s and the legislature’s leadership in expanding TAP, even more students can now achieve their college dreams – providing paths to upward mobility that strengthen their communities and our entire state.”

CUNY Chancellor Félix V. Matos Rodríguez said, "The vital mission of public higher education in New York State would not be attainable if not for financial aid and other resources that are available to students of all backgrounds and means. We commend Governor Hochul for providing generous financial assistance, including this year’s TAP expansion to students in non-degree programs, along with essential, targeted outreach through initiatives like College Application Month. These efforts help move the needle to make higher education more accessible, affordable, and inclusive for every student in New York State.”

President of the Commission on Independent Colleges and Universities Lola W. Brabham said, “New York’s independent colleges and universities are proud to work with HESC to make the dream of earning a college degree a reality. The programs administered by HESC open doors and allow students access to the transformative power that higher education provides. We greatly appreciate the leadership HESC has demonstrated in assisting students, families, and schools to navigate the redesigned FAFSA process, and we look forward to our continued partnership with HESC.”

President of New York’s Association of Private Colleges Donna Stelling-Gurnett said, “This past year, we have seen exceptional victories that will remove barriers for New Yorkers choosing to explore higher education opportunities that they may not have previously. By working closely with Governor Hochul and HESC, we can continue to ensure that students have access to the best possible resources and support they need to attend the institution that will prepare them for whatever career path they choose.”

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 hesc.ny.gov.