MAY 14, 2007

Via Conference Call




Council: David Canaski, Nancy Teodecki, Judi Miladin, Marilyn Faller, Andrea Mason, Janet McGrath, , Kerry Lubold, Heather McDonnell,  Angela Van Dekker, Sharon Karwowski,  Sheryl Mihopulos


Absent: Maria Barlaam,  ,  Brenda Wright






Discussion of policy change in order to meet the Code of Conduct that many schools have signed which remains in effect until each college’s legal staff has had time to renegotiate with the Attorney Generals’ Office for their agreement to be in-line with SLATE.

Currently our website was updated to discontinue credit card payments and remove all lender banner advertisement.



To adopt the following Policy as the official policy of NYSFAAA, effective immediately and add to the NYSFAAA Policy and Procedure Manual in the section entitled: “TREASURY ISSUES”, and to adopt the Web Statement and post to the NYSFAAA website.




NYSFAAA will neither solicit nor accept any money, gifts or compensation from any entity described in S620(8)a (lenders/servicers) and/or S620(8)b (guarantee agencies) of New York State Education Law.  The Treasurer and all other members of NYSFAAA will refuse any payment to NYSFAAA of any kind from such entities.  If any member accepts such payment on behalf of NYSFAAA in violation of this policy, the Treasurer will immediately return the funds and report the breach of policy to the President and the Executive Council.



Web Statement:


The New York State Financial Aid Administrator’s Association, Inc (NYSFAAA) does not receive any money, gifts or compensation from any “lending institution” as defined in S620(8)a and S620(8)b of New York State Education Law (as passed by the NYS Legislature and signed by Governor Spitzer in May 2007).  Hence, NYSFAAA does not meet the definition of “lending institution” as defined in S620(8)c of New York Education Law.  Therefore, institutions of higher education in New York and employees of those institutions are not subject to any potential conflicts of interest or legal restrictions under NYS Education Law in their interactions with NYSFAAA.*


* This statement does not constitute, and should not be construed as, legal advice.  


VanDekker/ Mihopulos. MOTION Approved Unanimously .


Action: Dave 

1-     Will contact Paula Gordon at ATEC to include language on website.

2-     Will contact the SUNY attorney and also suggest that other colleges contact their attorney for updated Code of Conduct language concerning

3-     Will send an update to the listserve with background for the policy change.