N.Y. Education Law § 681: Capacity of minors

§ 681. Capacity of minors. Any person otherwise qualifying for a loan

from the corporation, or qualifying for a loan guaranteed by the

corporation, shall not be disqualified by reason of his being under the

age of eighteen years and for the purposes of applying for, receiving

and repaying such a loan any such person shall be deemed to have full

legal capacity to act; provided, however, that the signature of both

parents of an applicant not meeting emancipated status requirements

shall be required for the purposes of receiving such a loan unless the

president determines in accordance with rules and regulations to be

promulgated by the board that unusual family circumstances preclude the

availability of such signatures.