Loan information to be disclosed and model disclosure form for institutions participating in the William D. Ford Federal Direct Loan Program

Source Credit

(a) Provision of disclosures to institutions by the Secretary
Not later than 180 days after the development of the model disclosure form under section 1019b(a)(2)(B) of this title, the Secretary shall provide each institution of higher education participating in the William D. Ford Direct Loan Program under part D of subchapter IV with a completed model disclosure form including the same information for Federal Direct Stafford Loans, Federal Direct Unsubsidized Stafford Loans, and Federal Direct PLUS loans made to, or on behalf of, students attending each such institution as is required on such form for loans described in section 1019(3)(A) of this title.
(b) Duties of institutions
(1) In general
Each institution of higher education participating in the William D. Ford Direct Loan Program under part D of subchapter IV shall—
(A) make the information the Secretary provides to the institution under subsection (a) available to students attending or planning to attend the institution, or the families of such students, as applicable; and
(B) if the institution provides information regarding a private education loan to a prospective borrower, concurrently provide such borrower with the information the Secretary provides to the institution under subsection (a).
(2) Choice of forms
In providing the information required under paragraph (1), an institution of higher education may use a comparable form designed by the institution instead of the model disclosure form developed under section 1019b(a)(2)(B) of this title.

History

(Pub. L. 89–329, title I, §154, as added Pub. L. 110–315, title I, §120, Aug. 14, 2008, 122 Stat. 3125.)