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 2004.8 - Exception status
Universal Citation: 8 NY Comp Codes Rules and Regs ยง 2004.8
Current through Register Vol. 46, No. 39, September 25, 2024
A lender or educational institution may be placed upon exception status whenever the corporation receives complaints or information from the Attorney General, the State or Federal Education Departments, the Consumer Protection Board or other sources which indicate the program is not being properly administered. The lender or institution shall be notified of such status if it is continuously maintained for more than 10 business days unless withholding such notice is necessary to protect the confidentiality of an investigation.
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