If the applicable IUP provides that interest rates are subject to adjustment, then prior to establishing the final repayment schedule in the SLA or allonge, as applicable, the department shall:

1. (a) Compare the IUP interest rate stipulated in the OLA or ILD, as applicable, with the rate at the time the SLA or Allonge is prepared; and

2. (b) Adjust the interest rate to be the lower of:

   1. (1) The interest rate stipulated in the OLA or ILD; or
   2. (2) The interest rate at the time the SLA or allonge is prepared.

Source. (See Revision Note #1 and Revision Note #2 at chapter heading for Env-Dw 1100) #13160, eff 1-20-21