Nevada Administrative Code
Chapter 226 - NEW
Section 226.Sec. 7 - NEW

Universal Citation: NV Admin Code 226.Sec. 7

Current through September 16, 2024

1. The State Treasurer will review each application to receive repayment of student education loans under the Program.

2. If the State Treasurer determines that an application is incomplete or requires additional information or clarification, the State Treasurer may request additional information from the applicant. If the applicant does not submit the requested information within the period prescribed by the State Treasurer, the State Treasurer will deny the application.

3. The State Treasurer will deny an application to receive repayment of student education loans under the Program if the State Treasurer determines that:

(a) The application contains materially false or misleading information; or

(b) The applicant is not eligible for repayment of student education loans under the Program.

4. If the State Treasurer determines that an applicant is eligible for repayment of student education loans under the Program and sufficient money is available to make such repayment, the State Treasurer will:

(a) Calculate the ratio of the applicant's income to the amount owed on the applicant's outstanding student education loans;

(b) Determine the amount of student loan repayment that the applicant is eligible to receive from the Program pursuant to the methodology set forth in section 8; and

(c) Notify the applicant of the preliminary approval of the applicant to receive repayment of student education loans under the Program.

5. To receive repayment of student education loans under the Program, an applicant who receives a notice of preliminary approval pursuant to subsection 4 must complete, sign and return to the State Treasurer the agreement for repayment of student education loans developed pursuant to section 12. Upon receipt of a completed and signed agreement for repayment of student education loans, the State Treasurer or his or her designee will sign and execute the agreement.

6. The State Treasurer will make repayments of student education loans in accordance with the agreement executed pursuant to subsection 5.

Added by R081-23A, eff. 6/7/2024

section 8 of Assembly Bill No. 45, chapter 265, Statutes of Nevada 2023, at page 1769 (NRS 226.462)

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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