NY Educ L § 680 (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 14 - New York State Higher Education Services Corporation Part 3 - Student Loans 680 - Powers and Duties.

§  680. Powers and duties. 1. In furtherance of the purposes set forth   in this article, the corporation, acting by and through its board, shall   have the following additional powers:a. To lend  money  in  compliance  with  applicable  federal  law  and   regulation,  and  upon  such  terms  as  the  board may prescribe (1) to   persons who are attending or plan to attend colleges or career education   institutions in this state or (2) to persons who are residents  of  this   state  and  who  are  attending  or  plan  to  attend colleges or career   education institutions outside the state or (3) to persons on behalf  of   eligible  dependents  who  are  attending  or plan to attend colleges or   career education institutions in the state or (4)  to  persons  who  are   residents  of  this  state  on  behalf  of  eligible  dependents who are   attending or plan to attend colleges or  career  education  institutions   outside the state; andb.  To  guarantee  the  loan  of  money  in compliance with applicable   federal law and regulation,  and  upon  such  terms  as  the  board  may   prescribe  by  banks,  savings  banks,  savings  and  loan associations,   pension funds, credit unions, colleges, career  education  institutions,   and  insurance  companies  (1)  to  persons who are attending or plan to   attend colleges or career education institutions in this state or (2) to   persons who are residents of this state and who are attending or plan to   attend colleges or career education institutions outside  the  state  or   (3)  to  persons  on  behalf of eligible dependents who are attending or   plan to attend colleges or career education institutions in the state or   (4) to persons who are residents of this state  on  behalf  of  eligible   dependents  who  are  attending  or  plan  to  attend colleges or career   education institutions outside the state. Loans under this paragraph are   made under the authority of the federal student aid programs; andc. To enter into cooperative agreements, subject to  the  approval  of   the  board  of  trustees  and  the  director  of  the budget, with other   entities, including, but not  limited  to,  other  states,  the  federal   government,  and  post-secondary institutions, to establish, administer,   and operate federal student aid programs. Notwithstanding the provisions   of  paragraphs  a  and  b  of  this  subdivision,  the  corporation   is   authorized,  pursuant to such cooperative agreements, to provide federal   student aid services to students and families who are not  residents  of   New York state.2.  The  board  shall  adopt  rules  and  regulations, consistent with   federal and state  law,  governing  the  programs  administered  by  the   corporation  pursuant  to  this  part  including, but not limited to the   application,  granting,  payment  and  repayments  of  loans   made   or   guaranteed  by the corporation. Further, the board shall adopt rules and   regulations  consistent  with  federal  and  state  law  governing   the   participation  of  a  college  or  career  education  institution in the   programs  established  by  this  part,  including  procedures  for   the   limitation, suspension or termination of such participation after notice   and  opportunity for a hearing, due to the violation or failure to carry   out any rule or regulation prescribed by the board.3. The president of the higher education  services  corporation  shall   ensure  that  information  regarding  training,  employment services and   employment opportunities, including opportunities for programs available   without cost through the job opportunities and basic skills program,  is   provided   to  any  person  determined  to  be  a  recipient  of  public   assistance. The commissioner of social services shall ensure  that  such   information   is   made  available  to  the  higher  education  services   corporation.