A student who enters into a contract for a loan to finance a college education or who borrows money to defray the expense of attending any postsecondary educational institution:

1. (1) has full legal capacity to act in the student's own behalf in this transaction; and

2. (2) is subject to any obligation that arises from the contract.

   [Pre-2007 Higher Education Recodification Citation: 20-12-21.3-1.]

As added by P.L.2-2007, SEC.257.