Private student loan definition

Private student loan means any loan not guaranteed by the

Private student loan means any loan not guaranteed by the federal or state government that is used solely for per- sonal use to finance postsecondary education and costs of attendance at an educational institution. A private student loan includes a loan made solely to refinance a private stu- dent loan. A private student loan does not include an exten- sion of credit made under an open-end consumer credit plan, a reverse mortgage transaction, a residential mortgage trans- action, or any other loan that is secured by real property or a dwelling. [2019 c 371 § 2; 2019 c 227 § 1; 2018 c 199 § 202; 1988 c 231 § 1.]

Private student loan means a loan issued by a private lending institution

Examples of Private student loan in a sentence

• For example, the right to discharge a federal student loan when a school falsely certifies that its program meets relevant state requirements for employment in the field of training is an archetype of the kind of problems encountered by for-profit school students.243 Private student loan discharge should follow from federal student loan discharge.The disability discharge protections available to federal student borrowers also meet the purposes of the PSBPA.

• Private student loan borrowers have the weakest consumer financial protections of any group of borrowers.

• Private Credit Based Loans Private student loan programs offered by banks and other lenders are not federal financial aid loans; instead, a student borrows directly from and makes payments to the lender.

• Private student loan lenders have to more fully evaluate a potential borrower’s likelihood of repaying the loan because the loans are not guaranteed by the federal government.

• Courts have been very restrictive in applying this standard.3 Private student loan borrowers seeking to prove undue hardship often encounter judges who do not understand the difference between federal and private loans.

More Definitions of Private student loan

Private student loan means a student loan which is not a federal student

Private student loan or “PSL” means an education loan funded by a Lender Participant to finance the costs of higher education (or private K-12 education) that is not guaranteed by the United States Department of Education nor by any state or agency of any state.

Private student loan means a loan that is a qualified education loan, as defined in section 221(d)(1) of the Internal Revenue Code of 1986, incurred by a debtor who is an individual, unless that educational loan is made, insured, or guaranteed by a governmental unit, including a federal student loan, or is made under any program funded in whole or in part by a government unit or a nonprofit institution substantially affiliated with a government unit.321

Private student loan means a student loan which is not a Direct Loan, FFELP Loan, or Perkins Loan but, rather, a private student loan made by a lender.

Private student loan means a loan issued by a private lending institution for the costs of attendance

Private student loan means any loan not guaranteed by the federal or state government that is used solely for personal use to

Private student loan means a loan issued by a private lending institution for the costs of attendance at any public or private nonprofit college or university in the United States, notwithstanding the definitions in subdivisions (i), (k), and (l) of Section 94110.