Private Education Loan Disclosures

34 CFR 601.234 CFR 601.1134 CFR 601.3034 CFR 668.14(b)(29)

Schools or school-affiliated organizations (e.g., alumni organizations, foundations) that provide information regarding a private education loan from a lender to a prospective borrower must provide information to the prospective borrower, including:

  • Information required under Section 128(e) of the Truth in Lending Act (15 U.S.C. 1638(e))
  • That the prospective borrower may qualify for loans or other assistance under the Title IV, HEA programs
  • That the terms and conditions of the Title IV, HEA program loans may be more favorable than the provisions of the private education loans.

The information regarding private education loans must be presented in a manner that makes it distinct from information regarding Title IV, HEA program Loans.

HOW DISCLOSED

http://ifap.ed.gov/dpcletters/attachments/GEN1001A-AppSelfCert.pdf