Oregon § 348.592 Loan cancellation insurance

Oregon Statutes

§ 348.592 — Loan cancellation insurance

Oregon § 348.592

Vol.9

Title 30Education and Culture

Ch. 348Student Aid; Education Stability Fund; Planning

This text of Oregon § 348.592 (Loan cancellation insurance) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 348.592 (2026).

Text

(1)The Director of the Office of Student Access and Completion may obtain loan cancellation insurance for any person holding a loan under this section and ORS 348.505 to 348.530 and 348.570.

(2)The insurance shall insure the life of the student who borrows under this section and ORS 348.505 to 348.530 and 348.570 for the amount of the principal and interest due on the loan and the State of Oregon shall be named as the beneficiary. If the borrower dies before repaying the loan, the insurance shall be used to pay the balance of the loan and the director shall issue a satisfaction of the obligation.

(3)The Oregon Department of Administrative Services shall procure bids for the purchasing of insurance in compliance with the laws governing the purchase and furnishing of services to state age

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(1) The Director of the Office of Student Access and Completion may obtain loan cancellation insurance for any person holding a loan under this section and ORS 348.505 to 348.530 and 348.570.
(2) The insurance shall insure the life of the student who borrows under this section and ORS 348.505 to 348.530 and 348.570 for the amount of the principal and interest due on the loan and the State of Oregon shall be named as the beneficiary. If the borrower dies before repaying the loan, the insurance shall be used to pay the balance of the loan and the director shall issue a satisfaction of the obligation.
(3) The Oregon Department of Administrative Services shall procure bids for the purchasing of insurance in compliance with the laws governing the purchase and furnishing of services to state agencies.