La. Admin. Code tit. 28 § IV-2011

Current through Register Vol. 50, No. 12, December 20, 2024

Section IV-2011 - Responsibilities of LOSFA

A. LOSFA shall:

1. evaluate documentation provided by applicants to substantiate the information provided on the application;

2. select program participants based on the documentation provided and the applicants ability to pay student loans;

3. maintain program service agreements;

4. pay program funds to the program participants eligible student loan holder with instructions that the funds are to be used to reduce the outstanding principal amount due on the loan(s);

5. maintain a secure database of all information collected on recipients and former recipients, including name, address, social Security Number, name of the institution(s) to which funds were disbursed, and amounts disbursed.

La. Admin. Code tit. 28, § IV-2011

Promulgated by the Student Financial Assistance Commission, Office of Student Financial Assistance, LR 37:1388 (May 2011), Amended by the Board of Regents, Office of Student Financial Assistance, LR 44561 (3/1/2018).

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3021-3031 and R.S. 17:3129.7.