2012 Michigan Compiled Laws
Chapter 390 — UNIVERSITIES AND COLLEGES
Act 167 of 1976 — DISCLOSURES AS TO LOANS FOR EDUCATIONAL PURPOSES (390.1221 - 390.1224)
Section 390.1221 — Definitions.
DISCLOSURES AS TO LOANS FOR EDUCATIONAL PURPOSES (EXCERPT)
Act 167 of 1976
390.1221 Definitions.
Sec. 1.
As used in this act:
(a) Lender means an institution of higher education, a vocational school, a state agency, or a financial or credit institution in this state which makes or has made loans for educational purposes.
(b) Loan means a loan of money for educational purposes to a person enrolled or accepted for enrollment at an institution of higher education or a vocational school in this state, which loan is insured, reinsured, subsidized, guaranteed, or made by the state or an agency thereof, or which is insured, reinsured, subsidized, or guaranteed by the United States government or an agency thereof.
History: 1976, Act 167, Imd. Eff. June 25, 1976
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