Indiana § 21-12-15-3 - Student education loan information provided by educational institution

§ 21-12-15-3. Student education loan information provided by educational institution

Sec. 3. (a) An eligible institution that receives education loan information for a student enrolled in the eligible institution shall provide to that student the following information:

(1) An estimate of the total amount of education loans taken out by the student.

(2) An estimate of:

(A) the potential total payoff amount of the education loans incurred or a range of the total payoff amount; and

(B) monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided.

The information provided under this subdivision may include a statement that the estimates and ranges provided are general in nature and not meant as a guarantee or promise of the actual projected amount.

(3) The percentage of the borrowing limit the student has reached at the time the information is provided.

(b) An eligible institution shall provide the information required under subsection (a) annually.

(c) An eligible institution does not incur liability for any representations made under this section.

As added by P.L.15-2015, SEC.1.

IC 21-12-16Chapter 16. Next Generation Hoosier Educators Scholarship Program and Fund

21-12-16-1"Program" 21-12-16-1.5"Teacher" 21-12-16-2Program established; authority to award scholarships 21-12-16-3Next generation Hoosier educators scholarship fund 21-12-16-4Commission for higher education duties 21-12-16-5Scholarship qualifications 21-12-16-5.5Transition to teaching scholarship qualifications 21-12-16-6Consideration of applications; priority 21-12-16-7Contract requirements 21-12-16-7.5Capacity of students who are at least 17 years of age to enter contract 21-12-16-8Amount of scholarship awards; limits; distribution 21-12-16-8.5Amount of scholarship awards for transition to teaching applicants; limits 21-12-16-9Standards to maintain eligibility; petition for exception; extenuating circumstances 21-12-16-10Approval of accredited postsecondary educational institutions; standards for teacher education 21-12-16-11Repayment of scholarship award; failure to complete teacher education or transition to teaching program 21-12-16-12Repayment of scholarship award; failure to teach; petition for extension of time; waive repayment; agreement for collection of repayment 21-12-16-13Same school not required for teaching requirement 21-12-16-14Administered as financial aid award 21-12-16-15Other scholarships or forms of financial aid; conditions 21-12-16-16Scholarship subject to appropriation 21-12-16-17Records; report 21-12-16-18Adopt rules