§ 94916. — 94916. (Amended by Stats. 2014, Ch. 840, Sec. 27.)

California § 94916.

• 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. 8.: CHAPTER 8. Private Postsecondary Institutions
• Art. 12.: ARTICLE 12. Consumer Loans to Students

Text

An institution extending credit or lending money to an individual for institutional and noninstitutional charges for an educational program shall cause any note, instrument, or other evidence of indebtedness taken in connection with that extension of credit or loan to be conspicuously marked on its face in at least 12-point type with the following notice:
“NOTICE”
“You may assert against the holder of the promissory note you signed in order to finance the cost of the educational program all of the claims and defenses that you could assert against this institution, up to the amount you have already paid under the promissory note.”

Legislative History

Amended by Stats. 2014, Ch. 840, Sec. 27. (SB 1247) Effective January 1, 2015. Repealed as of January 1, 2027, pursuant to Section 94950.