Section 1043 - [Operative 2/15/2025] Annual Reporting - Student Debt Relief ServicesIf the registrant offers or provides student debt relief services under its registration, the registrant's annual report shall include the following information relating to the student debt relief services provided to California residents in the prior calendar year:
(a) The number of California residents who had an existing contract for student debt relief services in effect at any time during the prior calendar year.(b) For the residents identified in subdivision (a) of this section, the total number of debts residents contracted for student debt relief services with the registrant.(c) For the residents identified in subdivision (a) of this section, the average dollar amount of federal student debt per resident and the total dollar amount of federal student debt contracted for services with the registrant based on the total debt balances upon execution of the contracts with the registrant.(d) For the residents and debts identified in subdivisions (a) and (b) of this section, respectively, the total dollar amount of private student debt contracted for services with the registrant based on the total debt balances upon execution of the contracts with the registrant.(e) For the residents identified in subdivision (a) of this section, the total dollar amount of charges paid by all residents during their contract terms.(f) For the residents identified in subdivision (a) of this section who have federal student debts contracted for services with the registrant, the number of federal student debts for which the relief specified in the contract has been obtained and the average amount of time between execution of the contract and the obtaining of the relief.(g) For the residents identified in subdivision (a) of this section who have federal student debts contracted for services with the registrant, the number of federal student debts for which the relief specified in the contract has not been obtained and the average amount of time between execution of the contract and the date of the registrant's annual report.(h) For the residents identified in subdivision (a) of this section who have private student debts contracted for services with the registrant, the number of private student debts for which the relief specified in the contract has been obtained and the average amount of time between execution of the contract and the obtaining of the relief.(i) For the residents identified in subdivision (a) of this section who have private student debts contracted for services with the registrant, the number of private student debts for which the relief specified in the contract has not been obtained and the average amount of time between execution of the contract and the date of the registrant's annual report.(j) The number of California residents who received student debt relief services from the registrant without a written contract and compensated the registrant for providing the services.Cal. Code Regs. Tit. 10, § 1043
Note: Authority cited: Sections 90009 and 90010, Financial Code. Reference: Sections 90003, 90005, 90006, 90009, 90009.5, 90010 and 90018, Financial Code.
1. New section filed 10-11-2024; operative 2/15/2025 (Register 2024, No. 41).