34 CFR 601.2; 34 CFR 601.10, 34 CFR 601.12; 34 CFR 601.21
Each school and school-affiliated organization must make an annual report to the U.S. Department of Education that includes each lender in a preferred lender arrangement with the school or school-affiliated organization.
- The minimum information the Department determines must be disclosed
- Information required for private loans under the Truth in Lending Act
- A detailed explanation of the reasons a school or school-affiliated organization participates in a preferred lender arrangement with the lender, including why the terms, conditions, and provisions of each type of loan are beneficial to the school’s students or their families.
The information in the report must be made available to the public and provided to current students and students planning to attend the school and their families.