Private educational loan definition
Private educational loan means a private loan provided by a lender that is not made, insured, or guaranteed under Tit. IV of the federal Higher Education Act of 1965, as amended, and is issued by a lender solely for postsecondary educational expenses to a borrower, regardless of whether the loan involves enrollment certification by the educational institution that the student for which the loan is made attends. “Private educational loan” does not include a private educational loan secured by a dwelling or under an open-end credit plan. For purposes of this subsection, “dwelling” and “open-end credit plan” have the meanings given such terms in section 103 of the federal Truth in Lending Act, 15 U.S.C. §1602.
Private educational loan means a private loan pro-
Private educational loan means any student loan provided by a lender that is not made, insured or guaranteed under Title IV and is issued expressly for postsecondary educational expenses.
More Definitions of Private educational loan
Private educational loan means any loan provided by a lender that is not made, insured, or guaranteed under Title IV and is issued expressly for postsecondary educational expenses.
Private educational loan means a private loan provided by a lender that is not made, insured, or guaranteed under Tit. IV of the federal Higher Education Act of 1965, as amended, and is issued by a lender solely for postsecondary educational expenses to a borrower, regardless of whether the loan involves enrollment certification by the educational institution that the student for which the loan is made attends. “Private educational loan” does not include a private educational loan secured by a dwelling or under an open-end credit plan. For purposes of this subsection, “dwelling” and “open-end credit plan” have the meanings given such terms in section 103 of the federal Truth in Lending Act, 15 U.S.C.
Private educational loan means a private loan provided by a lender that—
Private educational loan means an extension of credit from a source other than a government agency to students for the purpose of meeting the costs of education.
Private educational loan means a private
Private educational loan means any loan provided by a lender that is not made, insured or guaranteed under Title IV and that is issued expressly for postsecondary education expenses, regardless of whether the loan is provided through the educational institution that the student attends or directly to the borrower from the lender. For avoidance of doubt, a Private Education Loan does not include (a) an extension of credit under an open end consumer credit plan, a reverse mortgage transaction, a residential mortgage transaction, or any other loan that is secured by real property or a dwelling; or (b) an extension of credit in which the educational institution is the lender if (i) the term of the extension of credit is ninety (90) days or less or (ii) an interest rate will not be applied to the credit balance and the term of the extension of credit is one (1) year or less, even if the credit is payable in more than four (4) installments.
Private educational loan means a loan provided by a private educational lender that is (i) not made, insured, or guaranteed under Title IV of the Higher Education Act of 1965, as amended and (ii) is issued expressly for higher education expenses.