The general assembly hereby declares that the availability of improved access to and choice of higher education opportunities in this state will benefit the residents of this state and that the establishment of a student loan program will assist such residents in meeting the expenses incurred in availing themselves of such opportunities. Source: L. 79: […]
As used in this article 3.1 or in the specified portion of this article 3.1, unless the context otherwise requires: “Borrower” means any person who receives a loan made, originated, disbursed, serviced, or guaranteed by the division, or made, purchased, originated, disbursed, or serviced by collegeinvest, created by part 2 of this article, or made […]
There is hereby created the student loan division in the department of higher education and the office of director of the division. The division and the director shall exercise their powers and perform their functions under this article as if the same were transferred to the department by a type 2 transfer. The director of […]
The division shall constitute an enterprise for the purposes of section 20 of article X of the state constitution so long as the division retains the authority to issue revenue bonds and the division receives less than ten percent of its total annual revenues in grants from all Colorado state and local governments combined. (Deleted […]
The division shall: Promulgate rules and regulations for administration of the Colorado student loan program established by this article, including but not limited to the following: Criteria for eligibility of borrowers, lenders, and institutions of higher education to participate in the network; Procedures to be followed by participating borrowers, lenders, and institutions of higher education; […]
The division is hereby authorized to make, originate, disburse, or service student loans directly to residents. “Resident” for the purpose of this section means any person attending an institution of higher education in Colorado, or any person attending an institution of higher education outside Colorado who would qualify for Colorado in-state tuition status under article […]
The general assembly hereby finds and declares that: Due to changes in federal law, the department shall no longer be involved in student loans that are guaranteed by the federal government; There are a number of employees of the division that are involved in originating, disbursing, servicing, and administering student loans that are guaranteed by […]
There is hereby established a student loan program, to be administered by the division, which shall guarantee, in accordance with applicable provisions of federal law, a percentage of the unpaid principal and interest on all guaranteed student loans approved by the division. No guaranteed student loan shall be guaranteed to a percentage or an amount […]
The division may create a special fund into which any funds borrowed from any person, corporation, financial institution, state or federal authority, political subdivision, or state or federal agency pursuant to the provisions of section 23-3.1-104.5 (1) may be deposited. (1.5) Repealed. All moneys deposited or paid into any special fund established by this section […]
There is hereby created in the state treasury a fund to be known as the student loan guarantee fund that shall contain: A reserve account for guaranteed student loans that is established to fulfill the functions of the federal student loan reserve fund established by section 422A of the federal “Higher Education Act of 1965”, […]
Any person otherwise qualifying for a student loan shall not be disqualified to receive a student loan under the Colorado student loan program by reason of being under the age of eighteen years. For the purpose of applying for, receiving, and repaying a student loan, any person shall be deemed to have full legal capacity […]
The Colorado student loan program shall be audited annually by the state auditor. Source: L. 79: Entire article added, p. 812, § 1, effective July 1. L. 81: Entire section amended, p. 341, § 4, effective March 27. L. 84: Entire section amended, p. 622, § 13, effective April 10. L. 96: Entire section amended, […]
The division is the agency authorized to enter into contracts concerning the programs established by Title IV, Part B of the federal “Higher Education Act of 1965”, 20 U.S.C. 1071, as amended. To the extent any fiscal policies required by the federal “Higher Education Act of 1965”, 20 U.S.C. 1071, as amended, are in conflict […]
The division is hereby authorized to enter into contracts or other agreements or both contracts and other agreements with private or public entities to make, originate, disburse, or service guaranteed student loans, educational loans, and student loans. Such authorization includes but shall not be limited to the power to enter into agreements with collegeinvest, established […]
Notwithstanding any provisions or definitions contained in this article to the contrary, the division is hereby authorized to guarantee, originate, service, make, and purchase consolidation loans and refinancing loans for all persons eligible for the consolidation and refinancing of student loans under Part B of Title IV of the federal “Higher Education Act of 1965”, […]
