CA Educ Code Section 94829

“Default” means failure of a borrower and endorser, if any, to make an installment payment for a loan received under the federal student financial aid programs when due, or to meet other terms of the promissory note, provided that this failure persists for 270 days if payment is due monthly or 360 days if payment is due less frequently. For purposes of this section, “endorser” means an individual who signs a promissory note and agrees to repay the loan in the event that the borrower does not.

Source: Section 94829, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=EDC§ionNum=94829..

Last Updated

Aug. 19, 2023

§ 94829’s source at ca.gov

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Location: https://california.public.law/codes/ca_educ_code_section_94829

Original Source: Section 94829, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=EDC§ionNum=94829. (last accessed Aug. 19, 2023).