Governor Hochul Announces 2024-25 New York State Higher Education Services Corporation Accomplishments

Published November 25, 2025

Annual Report Outlines Landmark Year Including Historic TAP Expansion, $935 Million in Student Aid and Improved FAFSA National Completion Ranking

More than 300,000 College Application Fees Waived for New York Students During College Application Month in October 2024, Saving New York Families an Estimated $15 Million

Report Also Highlights Increased Student Aid, Expanded Access and Statewide Partnerships; Link to the 2024 - 2025 Annual Report

Governor Kathy Hochul today announced the release of New York State Higher Education Services Corporation’s (HESC) 2024-25 Annual Report, which highlights a milestone year for college affordability and opportunity in New York. With $935 million in financial aid supporting over 294,000 students in the 2024-25 academic year, the report highlighted bold new initiatives and partnerships that continue to make higher education more accessible for all New Yorkers.

“New York continues to lead the nation in expanding access to higher education, and this year’s HESC Annual Report is further proof of our unwavering commitment to students,” Governor Hochul said. “By expanding financial aid, simplifying the path to college and removing long-standing barriers, we’re ensuring that every New Yorker has the opportunity to pursue their dreams. Together, we’re building a more affordable, smarter and more equitable New York — one where education remains the foundation of opportunity and progress for generations to come.”

New York State Higher Education Services Corporation President Dr. Guillermo Linares said, “2024 to 2025 marked a transformative year for HESC and for students across New York State. With Governor Hochul’s leadership and the steadfast support of the legislature, we’ve expanded financial aid and opened new pathways to higher education, making college more accessible and affordable to students across the state and reinforced our mission to help New Yorkers pay for college.”

New pathways to student aid include the launch of HESC’s Alternate Eligibility Application and strategic collaboration with nearly 100 academic and community partners. Additionally, innovative outreach like New York State College Application Month and the historic expansion of the Tuition Assistance Program (TAP) have significantly helped New Yorkers start, continue and complete their college journey.

Key Highlights from the 2024-25 Annual Report:

• Tuition Assistance Program Expansion: TAP expansion doubled the minimum award from $500 to $1,000, income threshold limits were raised from $80,000 to $125,000 for dependent students, $40,000 to $60,000 for independent married students, and from $10,000 to $30,000 for independent single students, and aid was extended to part-time students taking as few as three credits.
• Increased Student Aid Distribution: HESC administered $935 million in state financial aid, supporting over 294,000 students across New York, up from $873 million the previous year.
• FAFSA Completion Milestone: New York achieved a FAFSA ranking of sixth in the nation for the first time ever, driven by enhanced statewide outreach that generated 175,000 FAFSA and 47,000 TAP submissions.
• College Application Month Success: More than 300,000 college application fees were waived for New York students applying during College Application Month in October 2024. With the average application cost of $50 per institution, this initiative saved New York families an estimated $15 million.
• Expanded Pathways to Financial Aid: HESC launched the Alternate Eligibility Application, creating a new pathway for students to apply for state aid alongside the FAFSA and NYS DREAM Act.
• Digital Growth and Engagement: The HESC website drew over 3 million users, a 25 percent increase from the previous year, reflecting growing public engagement with HESC’s digital resources.

SUNY Chancellor John B. King Jr. said, “Thanks to Governor Hochul’s leadership, and the support of the State Legislature, state financial aid programs like TAP and initiatives like the Governor’s Universal FAFSA law and Free Application Month have given SUNY students the opportunity to access the affordable, high-quality education of their dreams. We thank Governor Hochul and the State Legislature for their unwavering support of SUNY and the students we serve.”

CUNY Chancellor Felix V. Matos Rodriguez said, “The expansion of our state’s financial aid supports to benefit more students has helped keep higher education within reach for all New Yorkers. We are grateful to Dr. Linares for his leadership of HESC, and we thank Governor Hochul for her commitment to expand and strengthen the programs that help more students pursue their academic and career goals at CUNY.”

New York State Education Commissioner Betty A. Rosa said, “Expanding access to financial aid is essential to ensuring that every student, regardless of background or circumstance, has the opportunity to pursue a college education. The Higher Education Services Corporation's annual report underscores our commitment to removing barriers, strengthening support systems, and opening doors to higher education for students across New York State. By working together with our partners, institutions, and communities, we can continue to make significant progress for the students we serve.”

Commission on Independent Colleges and Universities President Lola W. Brabham said, “HESC’s work is essential to New York’s higher education ecosystem. By expanding access to financial aid and simplifying the path to college, HESC is helping students across the state turn aspiration into achievement. New York’s private, not-for-profit colleges and universities are proud to partner with HESC in this mission — together, we are ensuring that every student has the opportunity to foster personal and social growth, while preparing to enter New York’s future workforce.”

New York’s Association of Private Colleges President Donna Stelling-Gurnett said, “The Association of Private Colleges is proud to partner with HESC, Governor Hochul, Legislative champions, and across all four sectors of higher education to improve accessibility and affordability to New Yorkers seeking new opportunities through secondary education. By working together, we have achieved historic TAP expansion for part-time students, while also removing financial barriers for students and families through state aid, FAFSA assistance, and College Application Month. We look forward to tackling the issues impacting students in the year ahead.”

Assemblymember Alicia L. Hyndman said, “As Chair of the Higher Education Committee in the New York State Assembly, I appreciate the progress outlined in HESC’s 2024-25 Annual Report. Access to education is paramount, and the expansion of financial aid, updates to TAP, and improved FAFSA completion rates are meaningful steps toward making higher education more attainable for students who have the drive but need financial support to reach their academic goals. Initiatives like College Application Month and the Alternate Eligibility Application further reduce barriers and help students navigate the path to college. I remain committed to advancing policies that broaden opportunity and ensure all New Yorkers have a fair and achievable route to higher education.”

About the New York State Higher Education Services Corporation

HESC is New York State’s student financial aid agency and a national leader in providing need-based grant and scholarship award money to college-going students. At HESC’s core are nearly 30 grant, scholarship, and loan forgiveness programs, including the NYS Tuition Assistance Program (TAP) and the Excelsior Scholarship. HESC puts college within the reach of hundreds of thousands of New Yorkers each year through programs like these and through the guidance it provides to students, families, and counselors. For more information, visit hesc.ny.gov.