New Mexico Administrative Code
Title 5 - POST-SECONDARY EDUCATION
Chapter 7 - TUITION AND FINANCIAL AID
Part 28 - NEW MEXICO EDUCATIONAL ASSISTANCE FOUNDATION ALTERNATIVE LOAN FUND PROGRAM REGULATIONS OF THE SELF-INSURANCE PROGRAM
Section 5.7.28.6 - OBJECTIVE
Universal Citation: 5 NM Admin Code 5.7.28.6
Current through Register Vol. 35, No. 18, September 24, 2024
The New Mexico educational assistance foundation ("NMEAF") has adopted program regulations ("program regulations") governing its alternative loan fund program ("program"). A requirement of the New Mexico Educational Assistance Act, Sections 21-21A-1 et seq. NMSA 1978 ("Act") is that student loans acquired with the proceeds of NMEAF revenue bonds be "insured," and the program regulations require that student loans made under the program be insured privately or through self-insurance. The purpose of these self-insurance regulations is to establish rules and regulations governing the NMEAF's self-insurance for the program.
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