N.Y. Education Law § 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.