New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter XX - Higher Education Services Corporation
Subchapter A - Administration
Part 2004 - Limitation, Suspension Or Termination Of Approval Of Loan Or Loan Guarantee Applications
Section 2004.7 - Application for reinstatement

Universal Citation: 8 NY Comp Codes Rules and Regs ยง 2004.7
Current through Register Vol. 46, No. 39, September 25, 2024

An institution or lender against which a final adverse decision has been issued under this Part may at any time request reinstatement of its eligibility (or portion thereof) and may submit to the president such material as it wishes, or as the president requests, to demonstrate that the basis for such decision has been remedied and is unlikely to recur. The president shall respond to such request within 30 days and, if he denies the request, shall provide reasons for such denial. An institution or lender whose request has been denied shall be given an opportunity to show cause why such request should not be denied. However, the president need not consider a request to remove a limitation or termination or grant an opportunity to show cause if such a request is submitted within six months of a previous denial. The reinstatement of an institution or lender which has been terminated may be subject to reasonable and appropriate conditions or limitations relating to the grounds for such termination.

Disclaimer: These regulations may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.