Conduct financial aid awareness, financial literacy sessions throughout the state, and make available literature on federal/State of NJ financial aid programs. HESAA provides over $400 million in NJ State grant & scholarship funding and over $200 million in student loans annually. College savings is provided from our NJBEST college savings program, where over $4 billion dollars are invested by customers to pay upcoming college expenses. History Established in 1959. The history of New Jersey Higher Education Student Assistance Authority (HESAA) is illustrated in a colorful timeline at our website at, click on “About Us” in the top right corner.