New website will help NY students with financial choices

By Nicky Hickling

New website will help NY students with financial choices

March 13, 2014 Updated Mar 13, 2014 at 12:39 PM EST

(WBNG Binghamton) Governor Andrew Cuomo announced Thursday that his Administration’s newly established Student Protection Unit within the Department of Financial Services (DFS) has launched its website.

 

“This new website will make it easier than ever for New Yorkers to make informed choices about paying for college,” Governor Cuomo said. “The Student Protection Unit is the State’s leading advocate for college students and their families, and by launching this website we are empowering New Yorkers with the information they need to properly finance their education and plan for a strong financial future.”

 

As part of the website launch, the Student Protection Unit has created an online “Student Lending Resource Center” with information for students entering college, their parents, and graduates paying their loans. It includes tips about the types of financial aid that are available, and what to do if you fall behind on your payments or end up in default. It also offers information on how to avoid unnecessary or unfair fees when opening a bank account at school and other advice to help New Yorkers navigate the financial decisions surrounding paying for college.

 

In the months ahead, the Student Protection Unit will add new, expanded, and updated information about student-related financial services, such as student health insurance and other products.

 

Governor Cuomo established the DFS Student Protection Unit in January 2014 as part of his Executive Budget to investigate potential consumer protection violations and help provide students with the facts they need to make the financial choices that are best for them.

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