Proposed Revision to 505.3 - Guaranteed Student Loan Program Lender Agreements

REPEAL ENTIRE POLICY

Board policy:

            1.         The Board of Regents will not guarantee any loan made by a lending institution under the Montana Guaranteed Student Loan Program unless a contract has been executed between the lending institution and the Board of Regents containing standards and requirements for making guaranteed student loans.  The board approves the terms and conditions expressed in the contract form (attached as Exhibit B) as minimum standards which lending institutions must satisfy to make loans under the Montana Guaranteed Student Loan Program.

            2.         The Commissioner of Higher Education or his designee is authorized to negotiate with Montana lending institutions and enter into contracts to guarantee student loans.

History:

                Item 27-003-R0480, Approval of the Board of Regents/Lender Agreement under the Montana Guaranteed Student Loan Program, April 21, 1980; Item 27-004-R0480, Authorization for the Commissioner of Higher Education or his Designee to Execute an Agreement with Approved Lenders in Montana under the Guaranteed Student Loan Program, April 21, 1980.

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