New York Higher Education Loan Program (NYHELPs)

The New York State Higher Education Loan Program is a new loan program for full-time or part-time undergraduate or graduate students attending a participating college, at least half-time, in an approved program. Eligible students and parents or non-parent sponsors may borrow as much as $20,000 annually up to the cost of attendance minus all other financial aid, excluding federal PLUS loans, whichever is less (borrowers must meet citizenship and NYS residency requirements). Interest rates are fixed at 7.55%, 8.25% or 8.75% for the spring 2010 term of the 2009-10 academic year and for the 2010-11 academic year.

For more information, contact NYS Higher Education Services Corporation at 1-888-NYS-HESC, or visit www.hesc.org.

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