Cal. Code Regs. tit. 5 § 30516

Current through Register 2024 Notice Reg. No. 25, June 21, 2024

Section 30516 - Alteration of Repayment Schedule when Scholar's Financial Condition Warrants

The California Student Aid Commission shall determine whether to reduce the amount of the required periodic payments for a scholar who does the following, in writing, at any time during the repayment process:

(a) Asks for a reduction of the periodic payment to a specified amount; and

(b) Asks for the payment reduction for a specified period of time, indicating the date of the commencement of the payment of the reduced amount and the date when it will return to its set amount; and

(c) Explains the reason for and provides appropriate documentation of a financial hardship; and

(d) Agrees to make supplemental payments after the lower payment period to complete repayment within the time specified by law.

Cal. Code Regs. Tit. 5, § 30516

1. New section filed 12-14-88; operative 1-13-89 (Register 88, No. 53).

Note: Authority cited: Sections 69741 and 69742, Education Code. Reference: 34 CFR 653.42(d)(2)(ii).

1. New section filed 12-14-88; operative 1-13-89 (Register 88, No. 53).