Sec. 5. “Education loan” means a direct loan or loan insured or guaranteed under a federal or state program or a program of private insurance that is made to assist a student in obtaining postsecondary education and that is:

(1) made to any Indiana student, or to either one (1) or both parents or the legal guardian of the student, for the purpose of attending an Indiana or non-Indiana postsecondary educational institution;

Terms Used In Indiana Code 21-16-1-5

  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
(2) made to any non-Indiana student, or to one (1) or both parents or the legal guardian of the student, for the purpose of attending an Indiana or non-Indiana postsecondary education institution; or

(3) made or owned by any lending institution:

(A) with an office located in Indiana; or

(B) whose affiliate has an office located in Indiana or located in a state in which an Indiana bank or an Indiana bank holding company is entitled under Indiana law to acquire a bank or bank holding company.

[Pre-2007 Higher Education Recodification Citation: 20-12-21.2-1(2).]

As added by P.L.2-2007, SEC.257. Amended by P.L.132-2013, SEC.2.