(a)  Any person qualifying for an eligible loan shall not be disqualified to receive a loan guaranteed by the division by reason of his or her being a minor. For the purpose of applying for, securing, receiving, and repaying a loan, any person shall be deemed to have full legal capacity to act and shall have all the rights, powers, privileges, and obligations of a person of full age with respect to a loan.

Terms Used In Rhode Island General Laws 16-57-9

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Division: means the Rhode Island division of higher education assistance, the division authorized, created, and established pursuant to § 16-57-4. See Rhode Island General Laws 16-57-3
  • Eligible loan: means a loan to a student or to the parent of a student insured or guaranteed by the commissioner of postsecondary education, or by any other governmental or private agency, corporation, or organization having a reinsurance or guaranty agreement with the commissioner applicable to the student loan. See Rhode Island General Laws 16-57-3
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6

(b)  No loan obligation incurred by any individual under the provisions of this chapter may be expunged, reduced, or discharged in any proceeding, including any proceeding in federal bankruptcy court. Any individual receiving a loan under the provisions of this chapter shall be required to sign an affidavit acknowledging the loan and agreeing to this condition.

History of Section.
P.L. 1977, ch. 238, § 1; P.L. 2015, ch. 141, art. 7, § 6.