Rule 390.1628

Mich. Admin. Code R. 390.1628

Loan; information and documentation; written credit denial.

(By authority conferred on the Michigan higher education student loan authority by sections 4, 4a, and 12 of 1975 PA 222, MCL 390.1154, 390.1154a, and 390.1162)Student Financial Services Board

(1) The authority shall obtain the required information and documentation from the applicant and from the school and shall assess borrower eligibility.
(2) If an applicant does not qualify for a loan, the authority shall issue a written credit denial within 30 days of the date that all materials were available for assessment.

History: 1990 AACS; 1995 AACS.