Statute · California Education Code
Cal. Educ. Code § 94829 — Definitions
Cal. Educ. Code § 94829
- Type
- Statute
- Source
- California Education Code
- Jurisdiction
- California
- Date
- 2015-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
“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…
Citator
Cal. Educ. Code § 94829 — Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
“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.