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 Albany, NY - As financial aid administrators finalize student aid packages for the upcoming year, newly accepted and current college students and their families are seeking advice about how to pay for college expenses and who they can trust as a source of loan information.
The financial aid process is complex and families are often overwhelmed by the number of financing options and by information sources that at times contradict each other.
The New York State Higher Education Services Corp. (HESC), the state agency that helps people pay for college, reminds students and families that the best source for college financial aid information is the college financial aid administrator. Financial aid administrators are highly trained advisors available to help students and families avoid confusion and succeed in paying for college.
“College financial aid administrators are the people on the front line, staying on top of the current state of the industry and working hard to guide students through the financial aid maze,” said HESC president James C. Ross.
“Financial aid professionals are able to find appropriate funding sources to make it possible for thousands of students to attend college ─ students who might not ordinarily have the opportunity,” Ross continued.
Most financial aid administrators within New York State belong to the New York State Financial Aid Administrators Association (NYSFAAA) and do not charge fees to families for information concerning planning for college.
HESC advises families to thoroughly investigate financial aid information before agreeing to any offers. Families should consider loans only after they have explored all the grants, scholarships and awards available to them. In addition to the college financial aid office, reliable information can be obtained from HESC’s Web site, www.hesc.org.
The same rules apply to college financing as to any other high-cost purchase: work with people you can trust; read everything; and if it sounds too good to be true, it probably is.
About HESC: HESC administers 25 student financial aid programs, making it the most comprehensive financial aid agency in the nation. The agency guarantees more than $4.5 billion in student loans annually. During 2006-07, HESC awarded nearly $5.5 billion in aid to more than 700,000 students.
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