1. (a) Academic degree shall mean an associate degree, a bachelor's degree, master's degree or a doctoral degree, as described in section 3.54 of the Rules of the Board of Regents.
2. (b) Academic year shall mean the regular school year beginning on or after July 1st.
3. (c) Agency shall mean the State of New York mortgage agency.
4. (d) Borrower shall mean an eligible borrower as defined in this section.

5. (e) Citizen or citizenship shall mean, with respect to an individual, a person who, at the time of commencement of the loan period for which a program loan is requested, is either:

   1. (1) a citizen of the United States;
   2. (2) a permanent resident alien holding an I-151 alien registration card; or
   3. (3) a conditional entrant or a member of a group of refugees paroled by the Attorney General of the United States. Individuals holding diplomatic, student or temporary visas do not constitute permanent resident alien status.
6. (f) Commissioner shall mean the New York State Commissioner of Education.
7. (g) Consummate shall mean disburse.
8. (h) Corporation shall mean the New York State Higher Education Services Corporation.
9. (i) Cost of attendance shall mean the cost of attendance as determined by the eligible college for purposes of section 472 of title IV of the Higher Education Act of 1965, as amended.
10. (j) Education loan shall mean any loan that is made under this program to finance or refinance higher education expenses at an eligible college.

11. (k) Eligible borrower shall mean:

    1. (1) a student who is a citizen and a New York State resident attending or accepted for enrollment in an eligible program at an eligible college and applies for an Education loan from a lender to pay for or finance the student's higher education expenses under this program; or
    2. (2) a parent, legal guardian, or sponsor as defined in this section, of a student attending or accepted for enrollment in an eligible program at an eligible college and such parent, legal guardian, or sponsor is a citizen and a New York State resident and applies for an education loan from a lender to pay for or finance the student's higher education expenses under this program.
12. (l) Eligible college shall mean a degree granting postsecondary institution, with its headquarters and main campus located within New York State, that is eligible for funds under title IV of the Higher Education Act of 1965, as amended, offering an academic degree, a professional degree, or a professional certificate.
13. (m) Eligible cosigner shall mean a parent, legal guardian or other individual who satisfies applicable credit criteria approved by the corporation and is a citizen and a New York State resident. A cosigner shall be eligible to cosign for no more than three separate borrowers for each academic year unless there exists a parental relationship for each additional borrower. To the extent permitted by statute, this definition shall not apply to a second cosigner as more fully described in the program's underwriting manual.
14. (n) Eligible program shall mean a program of study in a postsecondary institution approved by the commissioner leading to an academic degree or professional certificate.
15. (o) Graduate degree shall mean a program of study leading to a master's or doctoral degree, as described in section 3.54 of the Rules of the Board of Regents.

16. (p) Graduate or professional student shall mean a student, as defined herein, who is enrolled, or accepted for enrollment, at least half time as defined in this section and:

    1. (1) is enrolled in a program or course of study above the baccalaureate level or enrolled in a program leading to a graduate degree, to a professional degree, or to a professional certificate at an eligible college; or
    2. (2) has completed the equivalent of three years of undergraduate studies and is enrolled in a program that allows an individual to complete an undergraduate degree and any of a graduate degree, a professional degree, or a professional certificate within the same program and is not receiving title IV aid as an undergraduate student for the same period of enrollment.
17. (q) Half time shall mean part-time study as defined in section 145-2.1(a)(1) of this Title for undergraduate students and shall mean enrollment in at least six credits, or the equivalent, for graduate students, except as otherwise required by statute.
18. (r) Higher education expenses shall mean the cost of attendance at an eligible college and shall include tuition and fees, books, room and board and other educationally related expenses, as defined in this section.

19. (s) Holder shall mean with respect to an Education loan:

    1. (1) a lender described in section 2213.4 of this Part;
    2. (2) a public benefit corporation authorized to finance the purchase or making of education loans pursuant to the Public Authorities Law; or
    3. (3) any assignee of such lender or public benefit corporation for financing purposes.
20. (t) Legal guardian shall mean an individual appointed by a court to act as the legal custodian of an individual under 21 years of age.
21. (u) New York State resident shall mean an individual who has been a legal resident of New York State for at least 12 continuous months immediately preceding the commencement of the program loan period. Military personnel on active duty may be exempt from the residency requirement as determined by the corporation. Military personnel shall provide documentation to verify active duty status.
22. (v) Non-student borrower shall mean a parent, legal guardian, or sponsor, as defined in this section, eligible to receive a program loan.
23. (w) [Reserved]
24. (x) Other educationally related expenses shall mean all related allowances as contained in section 472 of the Higher Education Act of 1965, as amended.
25. (y) Parent shall mean a birth parent, stepparent, adoptive parent or the spouse of an adoptive parent.
26. (z) Program shall mean the New York Higher Education Loan Program (NYHELPs) established by article 14 of New York State Education Law.
27. (aa) Program Loan shall mean an program loan as defined in this section.
28. (ab) Professional certificate shall mean a certificate conferred on a person who has completed a program of study registered by the New York State Education Department in a degree-granting postsecondary institution that leads to a certificate as defined in section 50.1 of this Title.
29. (ac) Professional degree shall mean a degree conferred on a person who has completed the program of study requirements requisite to such a degree by a postsecondary institution authorized by the commissioner to confer such degrees, in accordance with the requirements set forth in section 3.47 of the Rules of the Board of Regents.
30. (ad) Public benefit corporation shall mean the agency and any other entity as defined in subdivision 1 of section 51 of the Public Authorities Law.
31. (ae) School shall mean an eligible college as defined in this section.
32. (af) Sponsor shall mean an individual who meets applicable credit criteria, is applying for an education loan as the borrower for the benefit of an eligible student, and is not a parent or legal guardian of the student.
33. (ag) Student shall mean any individual who is a citizen and is enrolled, or accepted for enrollment, at least half-time, as defined herein, in an eligible program at an eligible college located within New York State. A student must be certified by the college as meeting the requirements concerning satisfactory academic progress in accordance with 34 CFR 668. A student shall submit a completed free application for Federal Student Aid (FAFSA) and shall first exhaust all annual eligibility for all New York State aid, title IV aid (excluding Federal PLUS loans), other Federal aid, and institutional aid as certified by the eligible college.
34. (ah) Total and permanent disability shall mean a condition that occurred while the student was enrolled and after disbursement of a program loan or that, if in existence at the time of disbursement, has deteriorated substantially and in either case, leaves such student unable to work and earn money, as such phrase is defined for purposes of title IV of the Higher Education Act of 1965, as amended, or, to the extent permitted by statute, unable to attend college because the injury or illness is expected to continue indefinitely or result in death.
35. (ai) Undergraduate degree shall mean an associate or bachelor degree conferred by a postsecondary institution on a person who has completed the program of study requisite to such a degree, as described in section 3.47 of the Rules of the Board of Regents.
36. (aj) Undergraduate student shall mean a student, as defined herein, who is enrolled, or accepted for enrollment, at least half time as defined herein in a program leading to an undergraduate degree.
37. (ak) Loan period shall mean a period of time for which a loan is certified.

The following definitions apply to this Subchapter: