§1019 Definitions

Summary

Gives short, simple meanings for words used in these rules so people know who and what are covered. Agent — an officer or employee of a covered institution or of an institution-affiliated organization. Covered institution — any college or university that meets the definition in section 1002 of this title and receives any Federal funding or assistance. Education loan — includes loans under part B of subchapter IV, loans under part D of subchapter IV, and private education loans. Eligible lender — defined in section 1085(d) of this title. Institution-affiliated organization — an organization tied to a covered institution that recommends or promotes student loans (examples: alumni groups, athletic groups, foundations), but not a lender when that lender makes or secures a loan. Lender — for part B loans, an eligible lender; for part D loans, the Secretary; for private education loans, a private educational lender as defined in section 1650 of title 15; also includes anyone acting on the lender’s behalf. Officer — includes a director or trustee treated as an employee. Preferred lender arrangement — an agreement where a lender issues loans to a school’s students or families and the school or its affiliated group recommends those loans; excludes arrangements for part D loans and loans from the auction pilot program under section 1099d(b). Private education loan — defined in section 1650 of title 15.