Section 97-HHHH. The student lending education account

1. There is hereby
  established in the joint  custody  of  the  state  comptroller  and  the
  commissioner  of  taxation  and  finance  an  account to be known as the
  student lending education account.
    2. Such account shall consist of all revenues  generated  pursuant  to
  section  six  hundred  thirty  of the education law and all other moneys
  credited or transferred thereto from any other fund or  source  pursuant
  to law.
    3.  Moneys  of the account, following appropriation by the legislature
  shall be made available  to  the  state  education  department  for  the
  purposes  of:  (a)  supporting programs that educate students, potential
  students, and parents of such students on the educational loan  process,
  including,  but  not  limited  to,  available  educational loan options,
  understanding rates and terms  of  student  loans,  managing  costs  and
  credit  responsibilities, student loan repayment and loan consolidation;
  and (b) reimbursing  students  from  inflated  educational  loan  prices
  caused  by  revenue  sharing agreements between such covered institution
  and a lending institution. Money shall be paid out of the account on the
  audit and warrant of the state  comptroller  on  vouchers  certified  or
  approved by the state education department.