| (a) Student loan debt disclosures are required to include
education loan debt information that the participating higher educational
institution receives or otherwise obtains from the United States Department
of Education's central database for student aid, currently known as
the National Student Loan Data System, which is shared with institutions
through the Institutional Student Information Record (ISIR), as well
as information that the institution may reasonably collect from its
own records.
(b) Student loan debt disclosures must include an estimate
of the unpaid amount of federal education loans obtained by the student
and state education loans obtained by the student at the current institution.
The types of education loans must be identified for each total included.
(c) Student loan debt disclosures must include an estimate
of the total payoff amount for education loans, or a range for that
amount, including principal and interest. At a minimum, institutions
shall provide this information based on a 10-year repayment plan.
(d) Student loan debt disclosures must include an estimate
of the monthly repayment amount that the student may incur for the
repayment of the education loans, including principal and interest.
At a minimum, institutions shall provide this information based on
a 10-year repayment plan.
(e) Student loan debt disclosures must be sent electronically
in a manner that complies with the Family Educational Rights and Privacy
Act (20 U.S.C. §1232g; 34 CFR Part 99) and the participating
higher educational institution's privacy standards.
(f) The electronic communication of the student loan
debt must explain the following:
(1) the disclosure may not be a complete and official
record of the student's unpaid education loan debt;
(2) why the disclosure may not be complete or accurate,
including an explanation that for a transfer student, the institution's
estimates regarding state loans reflect only state loans incurred
by the student for attendance at the current institution, and not
prior institutions; and
(3) that the institution's estimates are general in
nature and are not intended as a guarantee or promise.
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