New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter XX - Higher Education Services Corporation
Subchapter D - The New York Higher Education Loan Program (nyhelps)
Part 2213 - The New York Higher Education Loan Program (nyhelps)
Section 2213.13 - College certification requirements

Universal Citation: 8 NY Comp Codes Rules and Regs § 2213.13

Current through Register Vol. 46, No. 39, September 25, 2024

(a) A college shall certify that the information it provides in connection with a program loan is complete and accurate. The college shall rely in good faith on information provided by the student and/or borrower in the absence of contrary information.

(b) When certifying a borrower for a program loan, a college shall certify to the best of its knowledge that:

(1) the borrower is an eligible borrower applying for a program loan to finance the education costs of an eligible student;

(2) the student for whom the program loan is being made has an unmet need for a program loan to pay for higher education expenses, which includes all allowances contained in section 472 of the Higher Education Act of 1965, as amended, based on the student's cost of attendance, less all available aid, within the meaning of section 2213.9(b) of this Part; and

(3) on or after February 14, 2010, the borrower has been provided with a self-certification form on private educational loans to be returned to the lender, or its servicer, unless the corporation has agreed to verify that the borrower has been provided with the self-certification form regarding his or her private program loan debt to be returned to the lender or holder or the holder's servicer of the program loan on behalf of the college.

(1) student's grade level and enrollment status;

(2) student's anticipated date of graduation;

(3) student's college name and branch code;

(4) maximum program loan approval amount;

(5) program loan disbursement dates (maximum of four dates);

(6) academic period of the program loan;

(7) certification by the college certifying officer of student eligibility and that the student meets the requirements regarding satisfactory academic progress in accordance with 34 C.F.R. 668 ; and

(8) certification by the college certifying officer that the program loan does not exceed the student's unmet need for the academic period and is within the prescribed annual loan limits; and

(9) certification by the college certifying officer that a program loan for a prior academic term does not:

(i) exceed the unmet need for such prior term and is within the prescribed annual loan limits; or

(ii) supplant or reimburse institutional aid.

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.