(a) The board of trustees shall serve as the direct lender of the non-subsidized student loans authorized under this chapter and in such capacity shall:(a) Accept and review each loan application;(b) Determine the applicant’s eligibility and continued eligibility;(c) Collect any balance which may become due as a result of default on any loan, for which purpose the board of trustees shall have all the same authority as they have for the guaranteed student loan program; and(d) Provide by rule for:(i) A mechanism for informing students of the availability of the loans;(ii) The creation of all applications, forms, promissory notes and other instruments necessary for the administration of the program; and(iii) Any other items necessary for the administration of the program.
(a) Accept and review each loan application;
(b) Determine the applicant’s eligibility and continued eligibility;
(c) Collect any balance which may become due as a result of default on any loan, for which purpose the board of trustees shall have all the same authority as they have for the guaranteed student loan program; and
(d) Provide by rule for:(i) A mechanism for informing students of the availability of the loans;(ii) The creation of all applications, forms, promissory notes and other instruments necessary for the administration of the program; and(iii) Any other items necessary for the administration of the program.
(i) A mechanism for informing students of the availability of the loans;
(ii) The creation of all applications, forms, promissory notes and other instruments necessary for the administration of the program; and
(iii) Any other items necessary for the administration of the program.