§ 694-B — Reporting

New York § 694-B

• Jurisdiction: New York
• Law EDN: Education
• Title 1: General Provisions Article 1 Short Title and Definitions (§§
• Part 5: The New York Higher Education Loan Program
• Art. 14: New York State Higher Education Services Corporation

Text

§ 694-b. Reporting. The corporation, after consultation with the state\nof New York mortgage agency, and any other public benefit corporation\nthat shall have issued bonds under the public authorities law for\npurposes of this program, with respect to loans that have been financed\nby or that are expected to be financed by such entity, shall report\nannually with respect to education loans made under this program for the\nprior academic year to the governor, the temporary president of the\nsenate, the speaker of the assembly, the director of the division of the\nbudget, the senate finance committee, the assembly ways and means\ncommittee and the standing committees of the legislature having\njurisdiction of higher education on the number and characteristics of\nstudents who received fixed rate and/or variable rate loans under this\nprogram, including, but not limited to, the interest rate charged, the\ndefault and collection fees established, the grace period established if\nother than six months, the number of students who received loans that\ndemonstrated financial need pursuant to section six hundred ninety-two\nof this part, the income established by the corporation pursuant to\nsection six hundred ninety-two of this part, the number of students who\nreceived fixed rate loans, the number of students who received variable\nrate loans, the number of default claims received by the corporation,\nthe number of borrowers subject to administrative wage garnishment, and\na list of the lenders and holders, if known, who have provided variable\nrate loans. Such annual report shall be submitted by the first day of\nDecember following the close of the academic year for which such\neducation loans were made.\n