Private education loan definition

Private education loan means an extension of credit that:

Private education loan. As the term is defined in 12 CFR 226.46(b)(5), a loan provided by a private educational lend- er that is not a title IV loan and that is issued expressly for postsecondary education expenses to a borrower, re- gardless of whether the loan is pro- vided through the educational institu- tion that the student attends or di- rectly to the borrower from the private educational lender. A private education loan does not include—

Private education loan means a loan provided by a private educational lender that is not a Title IV loan and that is issued expressly for postsecondary education expenses to a borrower, regardless of whether the loan is provided through the educational institution that the student attends or directly to the borrower from the private educational lender. A private education loan does not include an extension of credit under an open end consumer credit plan, a reverse mortgage transaction, a residential mortgage transaction, or any other loan that is secured by a real property or a dwelling.

Examples of Private education loan in a sentence

• Private education loan" means an extension of credit that is extended to a consumer expressly, in whole or in part, for postsecondary education expenses, regardless of whether the loan is provided by the education institution that the student attends, and that is not made, insured or guaranteed under the federal Higher Education Act of 1965, 20 United States Code, Chapter 28, Subchapter IV.

• Private education loan borrower" or "borrower" means any resident of this State who has received or agreed to pay a private education loan for the borrower's own education expenses.[PL 2021, c.

• Private education loan collection action" means any judicial action in which a claim is asserted to collect on a defaulted private education loan.[PL 2021, c.

• Private education loan collector" means a person collecting or attempting to collect on a defaulted private education loan.[PL 2021, c.

• Private education loan borrowers should contact their student loan provider should they have any questions pertaining to loan fees attached to their loan.

More Definitions of Private education loan

Private education loan means an extension of credit or a debt or

Private education loan means (A) a loan provided by a private educational lender that (i) is not a Government Education Loan or a FFELP Loan and (ii) is issued expressly for post-secondary educational expenses to a borrower, regardless of whether the loan is provided through the educational institution that the subject student attends or directly to the borrower from the private educational lender. For the avoidance of doubt, “Private Education Loan” does not include (x) an extension of credit under an open end consumer credit plan, a reverse mortgage transaction, a residential mortgage transaction or any other loan that is secured by real property or a dwelling or (y) a loan that consolidates or refinances an education loan.

Private education loan means a loan that is extended to a consumer expressly, in whole or in part, for postsecondary educational expenses.

Private education loan means a loan that:

Private education loan means an extension of credit that meets all of the following conditions:

Private education loan means credit that: (A) Is extended to a consumer expressly, in whole or in part, for postsecondary educational expenses, regardless of whether the credit is provided by the postsecondary educational institution that the student attends; and (B) is not made, insured or guaranteed under Title IV of the Higher Education Act of 1965, as amended from time to time.

Private education loan has the meaning given such term in section 1650 of title 15.