NMU's Compliance Database - Northern Michigan University
Private Student Loan Transparency and Improvement Act
| Reviewed By | Internal Auditor Owner |
| URL: | https://www.nmu.edu/financialaid/consumer-and-safety-information |
| Regulation Reference Cite | 12 CFR 226.46 |
| Report Due Date (Actual) | N/A |
| Level | Requirement |
| Oversight Unit | FINANCIAL AID |
| Person Responsible | Michael Rotundo |
| Secondary Person Responsible | Shawn Olson |
| President / VP Level | Finance |
| Description |
The Private Student Loan Transparency and Improvement Act amends the Truth in Lending Act. Universities and institutions must follow the rules and regulations pertaining to the newly amended Act. Any university-endorsed, recomended, or pormoted private loan lenders would have to be disclosed. |
| Contacts and Data Sources |
| TBD |
| Internal Notes |
| This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information |