Post-secondary education loan

Post-secondary education loan means a loan that is made, insured or guaranteed under Title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.) or that is extended to a consumer with the expectation that the funds extended will be used in whole or in part to pay post-secondary education expenses. A loan that is extended in order to refinance or consolidate a consumer's existing post-secondary education loans is also a post-secondary education loan. However, no loan under an open-end credit plan (as defined in Regulation Z, 12 CFR 1026.2(20)) or loan that is secured by real property is a post-secondary education loan, regardless of the purpose for the loan.

Source

12 CFR § 1090.106

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Scoping language

Market-related definitions. As used in this subpart:

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