§ 690. Definitions. As used in this part, the following terms shall\nhave the following meanings unless otherwise specified:\n 1. "Education loan" shall mean any loan that is made under this\nprogram to finance or refinance higher education expenses at an eligible\ncollege.\n 2. "Eligible borrower" or "borrower" shall mean (i) a student who is a\nresident of New York state attending, or accepted for enrollment at, an\neligible college, or (ii) the parent, legal guardian, or sponsor, as\ndefined by the corporation in regulation, of a student attending, or\naccepted for enrollment at, an eligible college who is a resident of New\nYork state, and who obtains an education loan from a lending institution\nto pay for or finance higher education expenses under this program.\n 3. "Eligible co
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§ 690. Definitions. As used in this part, the following terms shall\nhave the following meanings unless otherwise specified:\n 1. "Education loan" shall mean any loan that is made under this\nprogram to finance or refinance higher education expenses at an eligible\ncollege.\n 2. "Eligible borrower" or "borrower" shall mean (i) a student who is a\nresident of New York state attending, or accepted for enrollment at, an\neligible college, or (ii) the parent, legal guardian, or sponsor, as\ndefined by the corporation in regulation, of a student attending, or\naccepted for enrollment at, an eligible college who is a resident of New\nYork state, and who obtains an education loan from a lending institution\nto pay for or finance higher education expenses under this program.\n 3. "Eligible college" shall mean a post-secondary institution, located\nwithin New York state, eligible for funds under Title IV of the Higher\nEducation Act of nineteen hundred sixty-five, as amended, or successor\nstatute offering a two-year, four-year, graduate or professional degree\ngranting or certificate program.\n 4. "Eligible co-signer" shall mean a parent, legal guardian or\notherwise credit worthy individual over twenty-one years of age who\nsatisfies applicable credit criteria approved by the corporation and is\na resident of New York state.\n 5. "Higher education expenses" shall mean the cost of attendance at an\neligible college and shall include tuition and fees, books, room and\nboard, and other educationally related expenses, as determined by the\ncorporation.\n 6. "Holder" shall mean, with respect to an education loan: (i) a\nlender; (ii) a public benefit corporation authorized to finance the\npurchase or making of education loans pursuant to the public authorities\nlaw; or (iii) any assignee of such lender or public benefit corporation.\n 7. "Lending institution" or "lender" shall mean any entity that itself\nor through an affiliate originates education loans, other than an entity\nauthorized to finance the purchase or making of education loans through\nthe issuance of bonds pursuant to the public authorities law.\n 8. "Program" shall mean the New York Higher Education Loan Program\nestablished by this article.\n 9. "Student" shall mean any individual who is enrolled at least\nhalf-time, as defined by the commissioner, in a two year, four year,\ngraduate or professional degree granting or certificate program at an\neligible college.\n