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Form #1384Insurance agreement
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Insurance agreement
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Insurance agreement.
_________ Corporation, ("lender") wishes to
be able to secure federal loan insurance on loans made to students pursuing
programs of higher education pursuant to the Higher Education Act of 1965, as
amended.
The United States Commissioner of Education,
("commissioner") having found that the lender qualifies as an
eligible lender under the provisions of such Act wishes to encourage the making
of such loans by the lender.
Now therefore, it is agreed that:
1. Within such limits as may be set by the
commissioner, the commissioner shall insure all loans made by the lender which
are eligible for such insurance under such Act and the regulations issued under
it, which Act and regulations as they may from time to time be amended, are
made a part of this contract.
2. In making loans available to eligible students, the
lender undertakes to assist them in securing such reductions in their
obligations to pay interest on loans made by the lender as they may be eligible
to receive under such Act and regulations.
3. The lender shall not sell or otherwise transfer
loans insured under this contract of insurance at discount, or (except for
interest and insurance charges) pass any of the costs of making loans which are
to be insured under the provisions of the Act on to the borrower (in the form
of higher tuition charges or otherwise), except under such unusual
circumstances as may be approved by the commissioner.
4. If the lender no longer intends to make loans
insured under this contract, the lender shall notify the commissioner and this
contract shall be terminated. This contract may also be terminated by the
commissioner in a manner provided for by regulation. The termination of this
contract shall not affect the coverage of loans under certificates of insurance
issued prior to such termination.
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or any other commercial use is prohibited. This includes reposting forms from this
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Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
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These forms are provided to assist business owners and others in understanding important
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by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
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is not engaged in recommending or referring members on the site or making claims
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