The Colorado Department of Law will hold a stakeholder meeting on student loan rules at 1 p.m. MDT on October 7.
The purpose of the stakeholder meeting is to solicit comments on the rules regarding the application of the Uniform Consumer Credit Code and the Colorado Student Loan Equity Act to income sharing agreements, to creditors entering into income sharing agreements and to providers of revenue sharing agreements.
The Colorado Student Loan Equity Act expands the current Colorado Student Loan Servicers Act, which applies only to people who administer student loans, by adding a section covering private lenders, creditors and collection agencies related to loans. students who are not granted, insured or guaranteed by federal law and who are used for post-secondary education, ACA International reported previously.
The Law Department Administrator accepts written comments on these or any other topics related to revenue sharing agreements before the close of business on Friday, October 8. The department is also asking for examples of loan agreements of revenue sharing agreements from stakeholders.
There will be a rule-making hearing after reviewing the information provided by stakeholders and publishing a proposed rule. A final draft of all proposed rules will be released with the Colorado Secretary of State at least 20 days before the rule-making hearing
See the meeting notice for more details and a Zoom link.
For more information on how the ACA licensing staff can help you complete your license applications, please contact us at [email protected] or call (952) 926-6547.
To receive notifications about ACA content, including member alerts, upcoming events and new products.send ALERTS to 96997.