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2022 New York Laws
EDN - Education
Title 1 - General Provisions
Article 14 - New York State Higher Education Services Corporation
Part 5 - The New York Higher Education Loan Program
694 - Sale of Education Loans.

Universal Citation: NY Educ L § 694 (2022)
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§  694.  Sale of education loans. 1. The corporation and holders shall
  be authorized to enter into one or  more  agreements  for  the  sale  of
  education loans made pursuant to this program.

2. Education loan purchases may be financed (i) by bonds issued by the
  state  of  New York mortgage agency, or other entity authorized to issue
  bonds for such purpose pursuant to the public  authorities  law,  in  an
  amount  approved  by the director of the division of the budget; or (ii)
  by other  non-state  sources  in  amounts  established  pursuant  to  an
  agreement with the corporation.

3.  The  corporation shall establish the criteria and terms upon which
  lenders may sell education loans subject to the approval of the state of
  New York mortgage agency or any other entity authorized to  issue  bonds
  under  this  program  with  respect  to  loans  that  are expected to be
  financed by such entity.

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