New York Laws
Article 14-A - Student Loan Servicers
710 - Definitions.

(a) receiving any payment from a borrower pursuant to the terms of any
student loan;
(b) applying any payment to the borrower's account pursuant to the
terms of a student loan or the contract governing the servicing of any
such loans;
(c) providing any notification of amounts owed on a student loan by or
on account of any borrower in conjunction with performing such
activities as described in paragraphs (a), (b), or (d) of this
subdivision;
(d) during a period where a borrower is not required to make a payment
on a student loan, maintaining account records for the student loan and
communicating with the borrower regarding the student loan on behalf of
the owner of the student loan promissory note;
(e) interacting with a borrower with respect to or regarding any
attempt to avoid default on the borrower's student loan, or facilitating
the activities described in paragraph (a) or (b) of this subdivision in
conjunction with performing such activities as described in paragraphs
(a), (b), or (d) of this subdivision; or
(f) performing other administrative services with respect to a
borrower's student loan in conjunction with performing such activities
as described in paragraphs (a), (b), or (d) of this subdivision.
8. "Student loan" shall mean any loan to a borrower to finance
postsecondary education or expenses related to postsecondary education.
9. "Federal student loan" means (a) any student loan issued pursuant
to the William D. Ford Federal Direct Loan Program; (b) any student loan
issued pursuant to the Federal Family Education Loan Program, which was
purchased by the government of the United States pursuant to the federal
Ensuring Continued Access to Student Loans Act and is presently owned by
the government of the United States; and (c) any other student loan
issued pursuant to a federal program that is identified by the
superintendent as a "federal student loan" in a regulation.