2023 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; and
b.  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; and
c. 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.