§ 655. Powers and duties of the president. In administering the
provisions of this article, the president shall have the following
powers and duties:

1. To administer the student financial aid programs specified in this
article.

2. To receive from the commissioner the list of academic performance
award recipients in order of merit and to notify such recipients of
their status as part of their application for other general awards or
loans.

3. To lend money and guarantee loans upon such terms and conditions
as the board may prescribe in accordance with the provisions of this
article.

4. To propose rules and regulations, subject to approval by the board
of trustees, governing the following:

a. Application for and the granting and administration of student aid
and loan programs, the repayment of loans or the guarantee of loans made
by the corporation; and administrative functions in support of state and
federal student aid programs.

b. Other matters relating to the activities of the corporation,
including but not limited to the limitation, suspension or termination
of approval of aid, loan, or loan guarantee applications for students
attending or planning to attend colleges or vocational institutions
whenever the board of regents has determined that such a college or
vocational institution no longer meets minimum certification
requirements or the board of trustees has determined, after notice and
affording an opportunity for hearing, that such college or vocational
institution has violated or failed to carry out any regulation
prescribed under this article or adopted by the board of trustees
pursuant to the powers granted in this article.

c. Procedures to be followed for submission of information by
colleges or vocational institutions as may be necessary to provide for
any administrative function by such institutions participating in any
federal or state student aid programs, including applications therefor
and repayment thereof, except that obligations of colleges shall be
limited to the following requirements:

(i) those required by the federal student aid programs;

(ii) periodic reports on the status of student borrowers at the
particular college;

(iii) interviews or other appropriate communications with student
borrowers at the time an application for a loan is certified or as soon
thereafter as feasible emphasizing the importance of the loan
obligation;

(iv) interviews or other appropriate communications with student
borrowers who are graduating or are known to be terminating their
enrollment emphasizing the importance of the loan obligation;

(v) providing the corporation, upon request, with the last known
addresses of borrowers who have graduated or otherwise left the college
and who are in default, including any change of address known to the
college after such request;

(vi) certification of student loans as frequently as is advisable and
feasible, and as lenders will process them (on an annual, semester,
quarterly or other academic period basis), with such certification
limited to those educational expenses approved under the federal student
aid programs;

(vii) cooperation in whatever way is feasible and appropriate under
institutional regulations in advising defaulting borrowers of their loan
obligations.

5. To establish, revise from time to time, charge and collect fees as
the corporation shall determine, consistent with the applicable
provisions of the New York state and federal student aid programs.

6. To prepare and make available explanatory pamphlets concerning
state aid and loan programs.

7. To establish a comprehensive collection of information and
materials relative to public and private sources of higher education
financial assistance available to students and to the characteristics of
the students who are the recipients of such assistance.

8. To conduct financial aid program reviews of a post-secondary
institution's procedures and records with respect to: certification to
the corporation of eligible students for purposes of tuition assistance
program and New York state sponsored student aid programs; compliance of
financial aid programs with the provisions of this article and the
relevant portion of the regulations of the commissioner; disbursement of
tuition assistance program and other awards; and the capacity of
institutions to administer New York state and federal financial aid
programs.

9. To request and receive from any department, division, board,
bureau, commission or agency of the state or any subdivision thereof
such assistance and data as it deems necessary to properly carry out its
powers, duties and functions.

10. To develop for the board of trustees a proposed budget for the
following state fiscal year in such form as the board may require and in
accordance with the provisions of section six hundred fifty-three.

11. To appoint such officers, employees and agents, as he may deem
necessary, prescribe their duties, fix their compensation and provide
for reimbursement of their expenses within amounts available therefor by
appropriation; subject, however, to the provisions of the civil service
law, which shall apply to the corporation in the same manner as such law
applies to a municipal corporation other than a city.

12. To perform such other acts as may be necessary or appropriate to
carry out effectively the general objects and purposes of the
corporation, as specified in this article.