PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
This is a consensus rule making to repeal section 2101.5 of Title 8 NYCRR. This rule is proposed pursuant to [SAPA § 207(3)], 5-Year Review of Existing Rules.
To repeal section 2101.5 of Title 8 of the NYCRR as obsolete.
Text of proposed rule:
Repeal of section 2101.5 of Title 8 of the NYCRR.
Text of proposed rule and any required statements and analyses may be obtained from:
Cheryl B. Fisher, NYS Higher Education Services Corporation, 99 Washington Avenue, Room 1325, Albany, New York 12255, (518) 474-5592, email: regcomments@hesc.ny.gov
Data, views or arguments may be submitted to:
Same as above.
Public comment will be received until:
45 days after publication of this notice.
Consensus Rule Making Determination
This statement is being submitted pursuant to subparagraph (i) of paragraph (b) of subdivision (1) of section 202 of the State Administrative Procedure Act and in support of the New York State Higher Education Services Corporation’s (HESC) Notice of Proposed Rule Making seeking to repeal section 2101.5 of Title 8 of the Official Compilation of Codes, Rules and Regulations of the State of New York (NYCRR).
It is apparent from the nature and purpose of this rule that no person is likely to object to the adoption of the rule as written. Section 2101.5 provides that the default fee charged by the corporation for Federal Family Education Loan Program (FFELP) loans shall be no more than what is prescribed by the Higher Education Act of 1965, as amended. The default fee is assessed upon origination of the FFELP loan. Pursuant to federal law, the origination of FFELP loans ceased as of July 1, 2010. As a result, this section of HESC’s regulations is no longer needed.
Consistent with the definition of “consensus rule”, as set forth in section 102(11) of the State Administrative Procedure Act, HESC has determined that this proposal, which repeals an obsolete rule, is non-controversial and, therefore, no person is likely to object to its adoption.
Reasoned Justification for Modification of the Rule
This statement is being submitted pursuant to subdivision (3) of section 207 of the State Administrative Procedure Act and in support of the New York State Higher Education Services Corporation’s (HESC) Notice of Proposed Rule Making seeking to repeal section 2101.5 of Title 8 of the Official Compilation of Codes, Rules and Regulations of the State of New York (NYCRR).
Section 2101.5 provides that the default fee charged by the corporation for Federal Family Education Loan Program (FFELP) loans shall be no more than what is prescribed by the Higher Education Act of 1965, as amended. The default fee is assessed upon origination of the FFELP loan. Pursuant to federal law, the origination of FFELP loans ceased as of July 1, 2010. As a result, this section of HESC’s regulations is no longer needed justifying its repeal.
Job Impact Statement
This statement is being submitted pursuant to subdivision (2) of section 201-a of the State Administrative Procedure Act and in support of the New York State Higher Education Services Corporation’s (Corporation) Notice of Proposed Rulemaking seeking to repeal section 2101.5 to Title 8 of the Official Compilation of Codes, Rules and Regulations of the State of New York.
It is apparent from the nature and purpose of this rule that it has no impact on jobs and employment opportunities. The rule repeals an obsolete section of HESC’s regulations as a result of the cessation of loan originations under the Federal Family Education Loan Program.
The Corporation has determined that this rule will have no substantial adverse impact on any private or public sector jobs or employment opportunities and therefore a full Job Impact Statement is not necessary.
