Louisiana Administrative Code
Title 28 - EDUCATION
Part IV - Student Financial Assistance-Higher Education Scholarship and Grant Programs
Chapter 16 - Health Care Educator Loan Forgiveness Program
Section IV-1617 - Responsibilities of LOSFA
Universal Citation: LA Admin Code IV-1617
Current through Register Vol. 50, No. 9, September 20, 2024
A. LOSFA shall:
1. obtain program nominee information from
the board and provide the nominee with a master promissory note, written
instructions, and a W-9 form;
2.
LOSFA will pay program funds directly to the student when all of the following
have been satisfied:
a. it has received a
completed, signed master promissory note;
b. it has received a completed W-9;
and
c. it has received confirmation
from the board that a recipient was enrolled full-time, or at least 2/3 time
for doctoral degree students in accordance with
§1611 B;
3. LOSFA will maintain a secure database of
all information collected on recipients and former recipients, including name,
address, Social Security number, program of study, name of the institution
which nominated the student for the loan program, name of the institution at
which a recipient was enrolled when receiving program funds, anticipated
graduation date, amount disbursed, and maximum amount available;
4. upon notification by the board that a
recipient has been terminated from the program without default, LOSFA will:
a. calculate the total amount due;
b. notify recipient of the date of the event
listed in §1609.
D.1.a i-iii and that he has 90 days from that
date to pay the full amount due;
c.
if payment is not received within 90 days of the date of termination as
determined by the board, LOSFA will institute collection activities and forward
the file to the Collection Division of the Louisiana Attorney General's
Office;
5. upon
notification by the board that a recipient has been terminated from the program
with default, LOSFA will:
a. calculate the
total amount due;
b. notify
recipient of the date of default and that he has 60 days from the date of
default to pay the full amount due or begin making monthly payments in amount
sufficient to pay at least 25 percent of the total amount due, including
interest, each calendar year;
c. if
payment of the total amount due or repayment does not begin within 60 days of
the date of default, LOSFA will institute collection activities, including
forwarding the file to the Collection Division of the Louisiana Attorney
General's Office.
AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3021-3031 and R.S. 17:3129.7.
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