Section 131-2-004 - Interest Rates and Administrative Fees004.01 The method and criteria used to establish interest rates, alternate interest rates, and administrative fees to be charged on loans will be described in the lUPs. Each loan will bear interest at the rate set by the Department under procedures prescribed in the lUPs. In developing an interest rate and administrative fee, the Department will take the following items into consideration: 004.01A Loan interest and the administrative fees may be jointly considered when establishing the interest rate and administrative fee. The interest rates may be reviewed and adjusted by the Department at the end of each Quarter, but should not be increased by more than 0.5 percent per Quarter.004.01B Alternate interest rate. The Department may adjust the interest rate when a loan applicant demonstrates a serious financial hardship or Qualifies as a disadvantaged community, for the purposes of the DWSRF.004.02 An administrative fee may be assessed each year against the loan principal balance on the dates set by the Department, and payable on those dates.131 Neb. Admin. Code, ch. 2, § 004
Amended effective 11/8/2016.Amended effective 7/21/2019