Section 173.160

Title XI EDUCATION AND LIBRARIES

Chapter 173

Effective - 28 Aug 1994   

  173.160.  Standards of eligibility for loans. — The board shall adopt and promulgate regulations establishing standards for determining eligible institutions, eligible lenders, and eligible borrowers under sections 173.095 to 173.180.  These standards shall include, but are not limited to, the following:

  (1)  The student's enrollment in an eligible institution, where his good standing and workload meet the criteria of the institution;

  (2)  The total guaranteed loans made to a student for one academic year;

  (3)  The aggregate insured unpaid principal of all guaranteed loans made to any student;

  (4)  The loans received by the student other than those guaranteed under the provisions of sections 173.095 to 173.180;

  (5)  The need of the student for the loan;

  (6)  The proportion of guaranteed outstanding student loans in default or potential default status from individual institutions or lenders;

  (7)  The percentage of the enrolled students at an institution who have guaranteed student loans and then withdraw; and

  (8)  The proportion of students at an institution having received guaranteed loans.

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(L. 1967 1st Ex. Sess. p. 894 § 8, A.L. 1978 H.B. 891, A.L. 1981 H.B. 326, A.L. 1994 S.B. 583)