SECTION 1009.45. Student loan information.
Latest version.
1(1) 2As used in this section, the term “student loans” means federal loans disbursed to a student to pay for education-related expenses.
23(2) 24Beginning with the 2017-2018 academic year, a postsecondary institution that disburses state financial aid shall annually, or once during each academic year, provide each student receiving student loans with the following up-to-date information in print or electronic format:62(a) 63An estimate of:661. 67The student’s total amount of borrowed student loans.
752. 76The student’s total potential loan repayment amount, including principal and interest, for the total amount of borrowed student loans.
953. 96The student’s monthly loan repayment amounts for the total amount of borrowed student loans at the time the institution provides the student loan information required under this paragraph.
124(b) 125The percentage of the borrowing limit that the student has reached at the time the information under paragraph (a) is provided.
146(3) 147An institution does not incur liability for providing information to a student under this section.
Bills Cite this Section:
None
Cited by Court Cases:
None
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