1. (a) Each institution of higher education, private or independent institution of higher education, or regional education service center described by §24.42(a)(3) of this chapter (relating to Eligible Institutions) participating in a program under this chapter that enrolls one or more students receiving state financial aid administered by the Coordinating Board shall provide estimates to each enrolled student described by subsection (b) of this section regarding his or her student loan obligations. The estimates shall:

   1. (1) be provided at least annually;
   2. (2) be sent electronically in a manner that complies with the Family Educational Rights and Privacy Act (20 U.S.C. §1232g; 34 CFR Part 99) and the participating higher educational institution's privacy standards; and
   3. (3) include the required elements described in §24.32 of this subchapter (relating to Disclosure Elements).

2. (b) An institution shall make a disclosure to any student enrolled at the institution:

   1. (1) who has a balance on one or more student loans; and
   2. (2) whose debt records are received by the institution.
3. (c) An institution does not incur liability for any representation made in a disclosure under this subchapter.

Source Note:The provisions of this §24.31 adopted to be effective November 13, 2025, 50 TexReg 7277.