Rule 390.1438

Mich. Admin. Code R. 390.1438

Loan purchases.

(By authority conferred on the higher education assistance authority by section 5 of Act No. 77 of the Public Acts of 1960, being S390.955 of the Michigan Compiled Laws)Student Financial Services Board

An educational loan may be purchased by another lender and shall be reported on forms provided by the authority. Notice of a merger of financial institutions on forms prescribed by the authority is sufficient to enable the authority to make proper loan changes.

History: 1979 AC; 1984 AACS; 1990 AACS.