ELSC definition
Examples of ELSC in a sentence
Where this occurs, every effort will be made to grant the time off in conjunction with days of rest.
If adverse credit is indicated under a strict interpretation of the federal regulations, ELSC will mail a Master Servicer approved denial notice to the borrower.
ELSC agrees that the Master Servicer shall be entitled to injunctive relief to enforce the provisions of this subsection.
In addition, if ELSC is the holder of any authoritative copy of any such electronically signed electronic record or promissory note, it shall hold the same in accordance with the United States Department of Education Standards for Electronic Signatures in Electronic Student Loan Transactions, as revised or supplemented from time to time and any applicable Guarantor regulations.
Information about each borrower furnished to ELSC hereunder is furnished upon the express condition that the information will be kept confidential by ELSC.
When a borrower’s balance owing is less than $50.00, ELSC may, at its discretion, write-off the balance.
ELSC covenants and agrees to service each Financed Student Loan in compliance with all requirements of the Act, the applicable Guaranty Agreement and all other laws and regulations applicable to its activities hereunder and to perform all services and duties customary to the servicing of Student Loans.
ELSC will carry out its responsibilities hereunder in a diligent and lawful manner.
ELSC agrees to submit the billing to the Department within 30 days following the last day of each quarter (March 31, June 30, September 30, December 31).
The Master Servicer specifically agrees to promptly notify ELSC of any bankruptcy action taken with respect to any Financed Student Loan.