§ 16-57-4. Authorization and powers.
(a) The office of the commissioner of postsecondary education is hereby granted and authorized
to use all of the powers set forth in this chapter for the purposes of guaranteeing
eligible loans to students in eligible institutions and to parents of those students
and administering other programs of postsecondary student financial assistance assigned
by law to the commissioner of postsecondary education.
(b) The exercise by the commissioner of postsecondary education of the powers conferred
by this chapter shall be deemed and held to be the performance of an essential governmental
function of the state for public purposes. It is the intent of the general assembly
by the passage of this chapter to vest in the commissioner all powers, authority,
rights, privileges, and titles that may be necessary to enable it to accomplish the
purposes set forth in this section and this chapter, and the powers granted by it
shall be liberally construed in conformity with these purposes.
(c) Except as provided in § 16-57-6.1, effective July 1, 2025, or upon approval by the U.S. Department of Education, whichever
is later:
(1) All functions formerly administered by the Rhode Island higher education assistance
authority and by the Rhode Island division of higher education assistance are hereby
transferred to the office of postsecondary commissioner;
(2) The office of postsecondary commissioner shall assume all rights, duties, assets,
liabilities, and obligations of the former Rhode Island higher education assistance
authority and the Rhode Island division of higher education assistance. The office
of postsecondary commissioner shall be considered to be the successor in interest
to both the Rhode Island higher education assistance authority and the Rhode Island
division of higher education assistance; and
(3) All contracts and agreements of whatsoever kind of the Rhode Island higher education
assistance authority and by the Rhode Island division of higher education assistance
are hereby assigned, transferred to, and assumed by the office of postsecondary commissioner.
(d) Upon the completion of the transfer, the Rhode Island division of higher education
assistance shall cease to exist. Whenever in any general law, public law, or rule
or regulation reference is made to the "Rhode Island higher education assistance authority,�
or the "Rhode Island division of higher education assistance,� the reference shall
be deemed to refer to and mean the office of postsecondary commissioner.