W. Va. Code R. § 133-34-11

Current through Register Vol. XLI, No. 49, December 6, 2024

Section 133-34-11 - Loan Management

11.1. The institution shall be responsible for notifying students selected to receive loans and for ensuring that borrowers receive the loan award notification and complete the promissory note before disbursement of fimds. The institution also shall be responsible for disbursement of any and all funds to students. Disbursements shall usually be made at the beginning of each semester in an amount equal to one-half (1/2) Ihe annual award.

11.2. An exit interview shall be required by the institution at the time the borrower gradxiates or otherwise terminates enrollment. At that time, the borrower's rights and responsibihties under the loan fund shall be discussed. Borrowers shall be obUgated during the period the loan is active to maintain a current address record with the student loan office of the medical school which provided the loan.

11.3. The institution shall exercise due diUgence in the collection of all loan amounts owed by borrowers.

W. Va. Code R. § 133-34-11