The authority may make commitments and agreements to insure student loan payments. [PL 2013, c. 34, §7 (NEW).]
1. Loan serviced. A loan insured by the authority must be serviced as required by the authority.
2. Compliance. A loan insured by the authority must be in compliance with the student loan insurance credit policy of the authority.
3. Other terms. A loan insured by the authority may be subject to terms other than those specified in subsections 1 and 2 as may be required by law or by rule of the authority.
4. Financial education. Prior to obtaining a loan insured by the authority, an applicant must satisfy financial education requirements established or approved by the authority.