Utah Legislation Recap
The Utah State Code was amended effective May 14, 2019, to include an education loan notification requirement.
Public and private postsecondary institutions that are located in Utah and participate in federal student assistance programs under the Higher Education Act of 1965 must annually, on or before July 1, provide education loan information to borrowers for whom they have received information about an educational loan.
Borrowers include students enrolled in an eligible postsecondary institution who receive an education loan as well as a parent or legal guardian who receives an education loan to fund education expenses of a student enrolled in an eligible postsecondary school.
What information must schools report in order to meet the requirements of the law?
The notification must include the following information:
- Notification that the borrower has an education loan;
- Directions to the National Student Loan Data System to receive information about the borrower’s education loan; and,
- Directions to an online repayment calculator.
Are there any additional requirements or statements?
No additional information is required.
Here's how to navigate it
Student debt letters are a great way to help you retain the students you've worked so hard to enroll. But for an already overworked staff, debt letter legislation can feel like just one more area requiring compliance. Our free downloadable resources can help you find your way!
