37-145-11 - Board of trustees to serve as direct lender of non-subsidized student loans; general duties. - Mississippi Statutes

§ 37-145-11. Board of trustees to serve as direct lender of non-subsidized student loans; general duties.
 

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. 
 

Sources: Laws,  1992, ch. 475, § 6, eff from and after passage (approved May 6, 1992).