Section 9073 - Criteria to be Considered by the Authority(a) When determining whether to grant CEFA board approval to an Eligible Candidate, the Authority will consider all of the Eligible Candidate's attributes and qualifications including but not limited to: (1) Whether the members of the Eligible Candidate's board of directors have sufficient experience, credentials and qualifications in the student loan industry.(2) Whether the Eligible Candidate's chief executive officer and chief financial officer have sufficient experience, credentials and qualifications in the student loan industry.(3) Whether the Eligible Candidate has a business and/or strategic plan.(4) Whether the Eligible Candidate has a marketing plan.(5) Whether the Eligible Candidate can demonstrate that it has or will have sufficient staff and a sustainable organizational structure in California to undertake the issuance of bonds and/or acquisition of student loans in California.(6) Whether the Eligible Candidate has a demonstrated presence in California's student loan industry.(7) Whether the Eligible Candidate can demonstrate the ability to deliver competitive and comprehensive student loan services to the students in California.(8) If the Eligible Candidate is seeking bond financing for the purpose of originating student loans, whether the entity or its parent corporation has demonstrated experience in originating student loans.(9) If the Eligible Candidate is seeking bond financing for the purpose of purchasing student loans in the secondary market, whether the entity or its parent corporation has demonstrated experience in purchasing student loans in the secondary market.(10) Whether the Eligible Candidate or its parent corporation has experienced an increase in student loan volume and asset base (direct origination or purchased, as applicable) in the previous three years.(11) Whether the Eligible Candidate or its parent corporation has a demonstrated track record of offering competitive and comprehensive loan products.(12) Whether the Eligible Candidate or any of its officers, employees or affiliates has been the subject of any administrative, civil or criminal enforcement action brought by a federal, state, or local governmental agency.(13) If the Eligible Candidate is owned or controlled by, or operated under common control with, a for-profit entity, whether the Eligible Candidate will provide a public benefit that is not already being met by a Qualified Scholarship Funding Corporation, such as a grant program for financially needy students or an outreach program encouraging high school students to attend college and obtain an undergraduate degree.Cal. Code Regs. Tit. 4, § 9073
1. New section filed 4-24-2007; operative 5-24-2007 (Register 2007, No. 17). Note: Authority cited: Section 94140, Education Code. Reference: Section 94103, Education Code; and Sections 8869.82 and 8869.85, Government Code.
1. New section filed 4-24-2007; operative 5-24-2007 (Register 2007, No. 17).