§ 94164. — 94164. (Added by Stats. 2014, Ch. 816, Sec. 2.)

California § 94164.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 10.
• Title 3.: DIVISION 10. PRIVATE POSTSECONDARY AND HIGHER EDUCATION INSTITUTIONS
• Part 59.: PART 59. PRIVATE POSTSECONDARY AND HIGHER EDUCATION INSTITUTIONS
• Ch. 2.: CHAPTER 2. California Educational Facilities Authority Act
• Art. 4.1.: ARTICLE 4.1. California Student Loan Refinancing Program

Text

Notwithstanding the other provisions of this article, the authority may facilitate the development of a secondary market for a qualified loan under the program by providing security for that loan, thereby increasing participation in the program by financial institutions and improving access to qualified borrowers to refinance private student loans. For purposes of this section, the actions that the authority may take include, but are not necessarily limited to, assigning all or a portion of any loss reserve account to any other entity in connection with providing security for a qualified loan, including a trustee of a securitization trust, transferring a qualified loan from a financial institution to a securitization trust, and assisting
underwriters in marketing a qualified loan to the secondary market.

Legislative History

Added by Stats. 2014, Ch. 816, Sec. 2. (AB 2377) Effective January 1, 2015.