2015 New York Laws
EDN - Education
Title 1 - GENERAL PROVISIONS
Article 13-B - (620 - 632) STUDENT LENDING ACCOUNTABILITY, TRANSPARENCY AND ENFORCEMENT ACT
626 - Loan disclosure and prohibition of quid pro quo high risk loans.

  626.  Loan  disclosure  and  prohibition  of quid pro quo high risk
  loans.  1. Should a borrower or potential  borrower  consult  a  covered
  institution's  financial  aid  office  in  connection  with obtaining an
  educational loan to pay for or finance higher  education  expenses,  the
  covered  institution  shall inform the borrower or potential borrower of
  all available financing options under Title IV  of  the  Federal  Higher
  Education  Act  of  nineteen  hundred  sixty-five, as amended, including
  information on any terms and conditions of available  loans  under  such
  title  that  are  more  favorable  to  the  borrower,  before  a lending
  institution may  provide  a  private  educational  loan  to  a  borrower
  attending a covered institution.
2.  A  lending  institution  shall  not  enter  into  an  agreement or
  otherwise provide any high risk  loans,  in  exchange  for  the  covered
  institution providing concessions or promises to the lending institution
  that may prejudice other borrowers or potential borrowers.
3.  A  covered  institution  shall  not  enter  into  an  agreement or
  otherwise provide any high risk  loans,  in  exchange  for  the  covered
  institution providing concessions or promises to the lending institution
  that may prejudice other borrowers or potential borrowers.