A person who otherwise qualifies for an educational loan is not disqualified because the person is under age 18. A person who is under age 18 is deemed to have full legal capacity to apply for, receive, and repay a loan and has all the rights, powers, privileges, and obligations of a person who is 18 years of age or older.

History: 1979 AC; 1984 AACS; 1990 AACS.