054-1 Wyo. Code R. §§ 1-11 - Loan Terms

(a) Loan origination fees shall be established by the Board.

(b) The student shall sign a promissory note as approved by the Board prior to disbursement to the student of any funds.

(c) The Board or the contracted financial institution may disclose any delinquency or default on the Student's loan to credit bureaus.

(d) If the student fails to make a scheduled repayment, or fails to comply with any other term of the note, the Board or the contracted financial institution may refer the student's loan to a collection agent; initiate legal proceedings against the student; withhold from the student school services, such as transcripts and letters of recommendation; and pursue judicial remedies.

(e) If the student fails to make a scheduled repayment or fails to comply with any other term of the promissory note, the entire unpaid balance of the loan, including interest due and accrued and any applicable penalty charges and collection fees, will, at the option of the Board, become immediately due and payable.

(f) The student may prepay all or any part of the principal and accrued interest of the loan at any time without penalty.

(g) The student will promptly inform the Board or the contracted financial institution of any change in name or address.

(h) Upon completion of the academic program, the student must provide every two months, until all the following requirements are reported to the contracted financial institution:

(i) Date of appropriate certification or licensure examination; and

(ii) Successful passing score and certification or licensure and employment information; or

(iii) Unsuccessful passing score and date of next examination; and

(iv) Outcome of second examination and, if successful, employment information.

Notes

054-1 Wyo. Code R. §§ 1-11

Adopted, Eff. 7/7/2004.