Description
20min | Credits: 0.50 CRCM
Note: The Reg Z Overview course must be taken at least once before any other Reg Z course is attempted.
Discusses the amendments to Reg Z that apply to any closed-end, non-home secured loan extended expressly, in whole or in part, to be used for post-secondary educational expenses. Explains the disclosure requirements for such loans and the applicability of the right to cancel.
Audience: All branch personnel responsible for taking loan applications or speaking to customers about private higher education loans.
Learning Objectives
After completing this course, students will be able to:
- Explain what type of loan qualifies as a private education loan (PEL) under Regulation Z’s rules
- Understand how students and cosigners are protected
- Explain what disclosures are required and when they must be provided
- Understand how the right to cancel applies to these types of loans
Prerequisites: Reg Z Overview
This course is part of the ABA Frontline Compliance program.