168.590. Coordinating board to determine rules regulating loans.
Coordinating board to determine rules regulating loans.
168.590. The coordinating board is hereby authorized toadopt regulations governing:
(1) The form, time and method of filing applications;
(2) The manner and time of repayment of the principal andinterest;
(3) The maximum rate of interest;
(4) The procedures in the event of default by the borrower;
(5) The deferral of interest and principal payments basedupon teaching in areas of critical need as defined by the stateboard;
(6) The forgiveness of principal and interest payments;
(7) The termination of course of study following the receiptof a loan;
(8) Collection assistance.
(L. 1985 H.B. 463)