Financial AidFederal Student Aid at a Glance Federal State Aid
The Higher Education Student Assistance Authority (HESAA) is a New Jersey authority that provides students and families with the financial and informational resources for students to pursue their education beyond high school. With roots dating back to 1959, HESAA's singular focus has always been to benefit the students it serves.
· Each year HESAA delivers over $1.2 billion in financial aid through grants, scholarships and loans.
· HESAA's need-based Tuition Aid Grant programs (TAG) providedover 71,000 awards totaling almost $282 million in FY 2011.
· The Authority's revenue allows it to reduce interest rates on NJCLASS loans. Last year alone, the interest rates on loans in NJCLASS were as low as 7.62% -- among the lowest in the nation.
· HESAA awarded approximately 10,300 merit-based scholarships to keep the State's brightest students in New Jersey in 2010-11.
· One of the agency's top priorities is public outreach. In 2010-11, HESAA made public outreach presentations in schools and community organizations to over 275,000 people in all 21 counties.