R434-40-8. Eligible Bona Fide Loans

Latest version.

  (1) An eligible bona fide loan is a loan used to pay for educational expenses leading to a qualifying geriatric professional or health care professional degree approved by the Department.

  (2) A bona fide loan includes the following:

  (a) a commercial loan made by a bank, credit union, savings and loan association, insurance company, school, or credit institution;

  (b) a governmental loan made by a federal, state, county, or city agency;

  (c) a loan made by another person that is documented by a contract notarized at the time of the making of the loan, indicative of an arm's length transaction, and with competitive term and rate as other loans available to students; or

  (d) a loan that the applicant conclusively demonstrates to the Department is a bona fide loan.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');