20-U.S.C.-1019D

20-U.S.C.-1019D

§1019D – Self-Certification Form For Private Education Loans

Pathway

Title 20 > Chapter 28 > Subchapter I > Part E > Section 1019d

Details

  • Reference: Section 1019d
  • Legend: §1019D – Self-Certification Form For Private Education Loans
  • USCode Year: 2013

Provision Content

(a) In general

The Secretary, in consultation with the Board of Governors of the Federal Reserve System, shall develop the self-certification form for private education loans that shall be used to satisfy the requirements of section 1638(e)(3) of title 15. Such form shall—

(1) be developed in a standardized format;

(2) be made available to the applicant by the relevant institution of higher education, in written or electronic form, upon request of the applicant;

(3) contain only disclosures that—

(A) the applicant may qualify for Federal student financial assistance through a program under subchapter IV of this chapter and part C of subchapter I of chapter 34 of title 42, or State or institutional student financial assistance, in place of, or in addition to, a private education loan;

(B) the applicant is encouraged to discuss the availability of Federal, State, and institutional student financial assistance with financial aid officials at the applicants institution of higher education;

(C) a private education loan may affect the applicants eligibility for free or low-cost Federal, State or institutional student financial assistance; and

(D) the information that the applicant is required to provide on the form is available from officials at the financial aid office of the institution of higher education;

(4) include a place to provide information on—

(A) the applicants cost of attendance at the institution of higher education, as determined by the institution under part E of subchapter IV;

(B) the applicants estimated financial assistance, including amounts of financial assistance used to replace the expected family contribution, as determined by the institution, in accordance with subchapter IV of this chapter and part C of subchapter I of chapter 34 of title 42, for students who have completed the Free Application for Federal Student Aid; and

(C) the difference between the amounts under subparagraphs (A) and (B), as applicable; and

(5) include a place for the applicants signature, in written or electronic form.

(b) Limit on liability

Nothing in this section shall be construed to create a private right of action against an institution of higher education with respect to the form developed under subsection (a).

(Pub. L. 89–329, title I, §155, as added Pub. L. 110–315, title X, §1021(b), Aug. 14, 2008, 122 Stat. 3487; amended Pub. L. 111–39, title I, §101(b)(7), July 1, 2009, 123 Stat. 1935.)

Amendments

2009—Subsec. (a)(4). Pub. L. 111–39 added par. (4) and struck out former par. (4) which read as follows: include a place to provide information on—

(A) the applicants cost of attendance at the institution of higher education, as determined by the institution under Part E of subchapter IV;

(B) the applicants expected family contribution, as determined under Part E of subchapter IV, as applicable, for students who have completed the free application for Federal student aid;

(C) the applicants estimated financial assistance, as determined by the institution, in accordance with subchapter IV of this chapter and part C of subchapter I of chapter 34 of title 42, as applicable;

(D) the difference between the amounts under subparagraphs (A) and (C), as applicable; and

(E) the sum of the amounts under subparagraphs (B) and (D), as applicable; and.

Effective Date of 2009 Amendment

Amendment by Pub. L. 111–39 effective as if enacted on the date of enactment of Pub. L. 110–315 (Aug. 14, 2008), see section 3 of Pub. L. 111–39, set out as a note under section 1001 of this title.

U.S. Encyclopedia of Law Coverage

20-U.S.C.-1015A in the Legal Encyclopedia: Students

In this entry about 20-U.S.C.-1015A, find legal reference material, bibliographies and premiere content related to students in the American Encyclopedia of Law, presenting a comprehensive view of the United States students-specific issues, written by authorities in the field.

20-U.S.C.-741 in the Legal Encyclopedia: Loans

In this entry about 20-U.S.C.-741, find legal reference material, bibliographies and premiere content related to loans in the American Encyclopedia of Law, presenting a comprehensive view of the United States loans-specific issues, written by authorities in the field.

15-U.S.C.-6406 in the Legal Encyclopedia: Education

In this entry about 15-U.S.C.-6406, find legal reference material, bibliographies and premiere content related to education in the American Encyclopedia of Law, presenting a comprehensive view of the United States education-specific issues, written by authorities in the field.

Topic Map


Posted

in

,

by

Tags:

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *