NY Educ L § 655 (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 14 - New York State Higher Education Services Corporation Part 1 - Corporate Structure 655 - Powers and Duties of the President.

§  655.    Powers  and duties of the president.   In administering the provisions of this article,  the  president  shall  have  the  following powers and duties:   1.  To administer the student financial aid programs specified in this article.   2.   To receive from the commissioner the list of academic performance award recipients in order of merit and  to  notify  such  recipients  of their  status  as  part of their application for other general awards or loans.   3.  To lend money and guarantee loans upon such terms  and  conditions as  the  board  may  prescribe in accordance with the provisions of this article.   4.  To propose rules and regulations, subject to approval by the board of trustees, governing the following:   a.  Application for and the granting and administration of student aid and loan programs, the repayment of loans or the guarantee of loans made by the corporation; and administrative functions in support of state and federal student aid programs.   b.   Other matters relating to  the  activities  of  the  corporation, including  but  not limited to the limitation, suspension or termination of approval of aid, loan, or loan guarantee  applications  for  students attending  or  planning  to  attend  colleges or vocational institutions whenever the board of regents has determined  that  such  a  college  or vocational   institution   no   longer   meets   minimum   certification requirements or the board of trustees has determined, after  notice  and affording  an  opportunity  for hearing, that such college or vocational institution  has  violated  or  failed  to  carry  out  any   regulation prescribed  under  this  article  or  adopted  by  the board of trustees pursuant to the powers granted in this article.   c.   Procedures to  be  followed  for  submission  of  information  by colleges  or  vocational institutions as may be necessary to provide for any administrative function by such institutions  participating  in  any federal  or  state student aid programs, including applications therefor and repayment thereof, except that  obligations  of  colleges  shall  be limited to the following requirements:  (i) those required by the federal student aid programs;  (ii)  periodic  reports  on  the  status  of  student borrowers at the particular college;  (iii) interviews or  other  appropriate  communications  with  student borrowers  at the time an application for a loan is certified or as soon thereafter  as  feasible  emphasizing  the  importance   of   the   loan obligation;  (iv)  interviews  or  other  appropriate  communications  with student borrowers who are graduating  or  are  known  to  be  terminating  their enrollment emphasizing the importance of the loan obligation;  (v)    providing  the  corporation,  upon request, with the last known addresses of borrowers who have graduated or otherwise left the  college and  who  are  in  default, including any change of address known to the college after such request;  (vi) certification of student loans as frequently as is advisable  and feasible,  and  as  lenders  will  process them (on an annual, semester, quarterly or other  academic  period  basis),  with  such  certification limited to those educational expenses approved under the federal student aid programs;  (vii)  cooperation  in  whatever way is feasible and appropriate under institutional regulations in advising defaulting borrowers of their loan obligations.    5.  To establish, revise from time to time, charge and collect fees as the  corporation  shall  determine,  consistent  with   the   applicable provisions of the New York state and federal student aid programs.   6.    To  prepare  and make available explanatory pamphlets concerning state aid and loan programs.   7.   To  establish  a  comprehensive  collection  of  information  and materials  relative  to  public  and private sources of higher education financial assistance available to students and to the characteristics of the students who are the recipients of such assistance.   8.   To conduct financial aid  program  reviews  of  a  post-secondary institution's  procedures and records with respect to:  certification to the corporation of eligible students for purposes of tuition  assistance program and New York state sponsored student aid programs; compliance of financial  aid  programs  with  the  provisions  of this article and the relevant portion of the regulations of the commissioner; disbursement of tuition assistance program and  other  awards;    and  the  capacity  of institutions  to  administer  New  York  state and federal financial aid programs.   9. To request  and  receive  from  any  department,  division,  board, bureau,  commission  or  agency  of the state or any subdivision thereof such assistance and data as it deems necessary to properly carry out its powers, duties and functions.   10.  To develop for the board of trustees a proposed  budget  for  the following state fiscal year in such form as the board may require and in accordance with the provisions of section six hundred fifty-three.   11.    To  appoint such officers, employees and agents, as he may deem necessary, prescribe their duties, fix their  compensation  and  provide for reimbursement of their expenses within amounts available therefor by appropriation;  subject, however, to the provisions of the civil service law, which shall apply to the corporation in the same manner as such law applies to a municipal corporation other than a city.   12.  To perform such other acts as may be necessary or appropriate  to carry   out   effectively  the  general  objects  and  purposes  of  the corporation, as specified in this article.