Rules & Regulations of the State of Tennessee
Title 1640 - Student Assistance Corporation
Chapter 1640-01-17 - Tennessee Teaching Scholars Program
Section 1640-01-17-.06 - COLLECTIONS
Current through April 3, 2024
(1) Due diligence requirements shall consist of the following:
(2) TSAC's collection activity will begin when the recipient is no longer honoring the repayment obligation. TSAC will exercise due diligence to contact the student to resolve the delinquency.
(3) TSAC will consider a recipient to be delinquent if the recipient fails to make an installment payment within thirty (30) days of the due date. Upon delinquency, TSAC will attempt to contact the recipient to give notice of the delinquency, inform the recipient of the consequences of default, and encourage the recipient to make payments as provided under the promissory note.
(4) TSAC will consider a recipient to be in default if the recipient fails make a payment for a period of two hundred seventy (270) consecutive days.
(5) Once the recipient is in default, TSAC may take one or more of the following actions:
Authority: T.C.A. §§ 49-4-201, 49-4-204, and 49-4-212.