Iowa Code 261A.23 – Institution power — interest rates
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 261A.23
- Authority: means the Iowa higher education loan authority created by this chapter, and "members of the authority" means those persons appointed to the authority pursuant to section 261A. See Iowa Code 261A.4
- Authority loans: means loans by the authority to institutions of higher education for the purpose of funding education loans. See Iowa Code 261A.4
- Contract: A legal written agreement that becomes binding when signed.
Institutions may borrow money from the authority, make education loans and take all other actions and do things necessary or convenient to consummate the transactions contemplated under this chapter. It is lawful for the authority to establish, charge, contract for, and receive any amount or rate of interest or compensation with respect to authority loans and, subject to rules adopted by the authority, for participating institutions to charge, contract for, and receive any amount or rate of interest or compensation with respect to education loans.