Fla. Admin. Code Ann. R. 28-40.003 - Identification of Employees in Default on Educational Loans

(1) Upon the effective date of this rule chapter, and not less frequently than every three months thereafter, the Department of Education will compile a list of borrowers who have defaulted on educational loans. The list shall identify the agency holding the loan and shall include the borrower's social security number. An agency, other than the Department of Education, which holds educational loans may submit the names of its defaulted borrowers to the Department of Education for inclusion on the list. Such submissions must be made by the fifteenth (15th) day of the month preceding the day on which the list is scheduled to be compiled and shall include the borrower's social security number and the identity of the agency holding the loan. This information shall be in tape and hard copy media.

(2) The Department of Education shall submit the list of default borrowers compiled pursuant to subsection (1) above to the following offices within fifteen (15) days of its creation: Unemployment Compensation Division of the Department of Economic Opportunity, Office of the Comptroller of the Department of Banking and Finance, and the Division of Retirement of the Department of Management Services. The list shall be provided in tape and hard copy media and shall include the information specified in subsection (1) above.

(3) The Departments of Economic Opportunity, Banking and Finance, and Management Services shall match their records to the list of default borrowers provided by the Department of Education within fifteen (15) days of receipt. Each shall provide to the Department of Education a new list of default borrowers which contains such additional information from its records as is readily available to locate employees in default on educational loans. For matched borrower records, such additional information shall include, the identity and address of the employer, the address of the employee, and the pay of the employee. For unmatched borrower records, such additional information shall include an indication that no record of the borrower was found.

(4) From the listings it receives from the Department of Economic Opportunity, the Department of Banking and Finance, and the Department of Management Services, the Department of Education shall provide information to the other agencies holding educational loans. Such information shall include the additional information received for the matched borrower records submitted by each agency and shall be provided within fifteen (15) days of receipt.

Notes

Fla. Admin. Code Ann. R. 28-40.003

Rulemaking Authority 112.175(2) FS. Law Implemented 112.175(2) FS.

New 5-27-90, Amended 1-5-93.

New 5-27-90, Amended 1-5-93.