New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter XX - Higher Education Services Corporation
Subchapter B - Federal Family Education Loan Program
Part 2103 - Lender Of Last Resort Program
Section 2103.3 - Eligibility
Universal Citation: 8 NY Comp Codes Rules and Regs ยง 2103.3
Current through Register Vol. 46, No. 39, September 25, 2024
A student is eligible for a Lender of Last Resort (LLR) loan if he or she meets all of the eligibility requirements for either a subsidized or unsubsidized Federal Stafford Loan and:
(a) is enrolled in an eligible participating institution of higher education located in New York State;
(b) is applying for either a subsidized or an unsubsidized Federal Stafford Loan; and
(c) has applied to two separate lenders for such a loan and has been denied a loan by each one.
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