1. 1. “Private education lender” means any person engaged in the business of securing, making or extending private education loans, or any holder of a private education loan.

2. 2. To the extent that state law is not preempted by federal law, the term does not include:

   1. (a) A bank, savings bank, savings and loan association or credit union;
   2. (b) A wholly owned subsidiary of a bank or credit union;
   3. (c) An operating subsidiary if each owner of the operating subsidiary is wholly owned by the same bank or credit union;
   4. (d) The Nevada System of Higher Education; or
   5. (e) The Western Interstate Commission for Higher Education.

(Added to NRS by 2023, 2856)