901

As used in this article: 1. 'Higher education' means higher education or career education, as those terms are defined in section two of the education law, via correspondence, online, or in person, regardless of whether the provider of such higher education is located within New York state. 2. 'Higher education expense' means any expense that is incurred by a consumer arising from higher education. 3. 'Student loan servicer' has the same meaning as such term is defined in subdivision six of section seven hundred ten of the banking law. 4. 'Private education creditor' means any person engaged in the business of extending a private education debt. 5. 'Private education debt' means an extension of credit to or debt or obligation owed or incurred by a consumer, contractual or otherwise, that: (a) is not made, insured, or guaranteed under Title IV of the Higher Education Act of 1965 (20 U.S.C. s.1070 et seq.); (b) is extended to a consumer expressly, in whole or in part, for, or accrues from nonpayment of, higher education expenses, regardless of whether the credit or debt or obligation is owed to a provider of higher education; and (c) is not a loan that is secured

for, or accrues from nonpayment of, higher education expenses, regardless of whether the credit or debt or obligation is owed to a provider of higher education; and (c) is not a loan that is secured by real property or a dwelling. 'Private education debt' shall include extensions of credit or debt or obligations owed or incurred to refinance a private education debt. 6. 'Provider of higher education' means a person engaged in providing or offering to provide higher education.