261.35 - DEFINITIONS.
261.35 DEFINITIONS.
As used in this division, unless the context otherwise requires:
1. "Commission" means the college student aid commission of
the state of Iowa.
2. "Eligible borrower" means a person, or the parent of a
person, who is enrolled or will be enrolled at an eligible
institution. All eligible borrowers must meet the eligibility
requirements established by the commission.
3. "Eligible institution" means any postsecondary educational
institution which meets the requirements of the provisions of the
Higher Education Act of 1965 for student participation in the federal
interest subsidy program and the requirements prescribed by rule of
the commission.
4. "Eligible lender" means a financial or credit institution,
insurance company or other approved lender which meets the standards
prescribed by the commission and has executed a lender participation
agreement with the commission.
5. "Higher Education Act of 1965" means the federal Higher
Education Act of 1965, as amended and codified in 20 U.S.C. § 1071 et
seq. Section History: Early Form
[C79, 81, § 261.35; 81 Acts, ch 8, § 12, ch 85, § 1] Section History: Recent Form
86 Acts, ch 1246, § 25; 89 Acts, ch 300, § 5; 90 Acts, ch 1253, §
122; 2006 Acts, ch 1180, §20
Referred to in §261.24