168.590. Coordinating board to determine rules regulating loans. - Missouri Statutes

Coordinating board to determine rules regulating loans.

168.590. The coordinating board is hereby authorized toadopt regulations governing:

(1) The form, time and method of filing applications;

(2) The manner and time of repayment of the principal andinterest;

(3) The maximum rate of interest;

(4) The procedures in the event of default by the borrower;

(5) The deferral of interest and principal payments basedupon teaching in areas of critical need as defined by the stateboard;

(6) The forgiveness of principal and interest payments;

(7) The termination of course of study following the receiptof a loan;

(8) Collection assistance.

(L. 1985 H.B. 463)