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Automobile Fraud: NEW MEXICO

N.M. Stat. Ann. § 58-19-7

Prohibited acts: Noncompliance with sale contract requirements.

Required procedures: No party to sign any sale contract having blank spaces; sale contract must contain essential financial details as specified. Some blank spaces as to vehicle identification and date of first installment may be left blank if vehicle not yet delivered to buyer. Prior to delivery of required contract to buyer, buyer may rescind contract and receive complete refund of any down payment including trade-in.

Student Loan Law: Listing of Provisions, Source, and Authority

TITLE 34—EDUCATION

SUBTITLE B—REGULATIONS OF THE OFFICES OF THE DEPARTMENT OF EDUCATION

CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION

PART 682—FEDERAL FAMILY EDUCATION LOAN (FFEL) PROGRAM

SUBPART B—GENERAL PROVISIONS

34 C.F.R. sec.

682.200 Definitions.

682.201 Eligible borrowers.

Student Loan Law: 34 C.F.R. § 682.211 Forbearance.

(a)(1) The Secretary encourages a lender to grant forbearance for the benefit of a borrower or endorser in order to prevent the borrower or endorser from defaulting on the borrower’s or endorser’s repayment obligation, or to permit the borrower or endorser to resume honoring that obligation after default. Forbearance means permitting the temporary cessation of payments, allowing an extension of time for making payments, or temporarily accepting smaller payments than previously were scheduled.

Student Loan Law: 34 C.F.R. § 682.210 Deferment.

(a) General.

(1)(i) A borrower is entitled to have periodic installment payments of principal deferred during authorized periods after the beginning of the repayment period, pursuant to paragraph (b) and paragraphs (s) through (v) of this section.

Student Loan Law: 34 C.F.R. § 682.411 Lender due diligence in collecting guaranty agency loans.

(a) General. In the event of delinquency on an FFEL Program loan, the lender must engage in at least the collection efforts described in paragraphs (c) through (n) of this section, except that in the case of a loan made to a borrower who is incarcerated, residing outside a State, Mexico, or Canada, or whose telephone number is unknown, the lender may send a forceful collection letter instead of each telephone effort required by this section.

(b) Delinquency.

Student Loan Law: 34 C.F.R. § 682.201 Eligible borrowers.

(a) Student Stafford borrower. Except for a refinanced SLS/PLUS loan, a student is eligible to receive a Stafford loan, and an independent undergraduate student, a graduate or professional student, or, subject to paragraph (a)(3) of this section, a dependent undergraduate student, is eligible to receive an unsubsidized Stafford loan, if the student who is enrolled or accepted for enrollment on at least a half-time basis at a participating school meets the requirements for an eligible student under 34 CFR part 668, and—

Student Loan Law: 34 C.F.R. § 682.200 Definitions.

(a)(1) The definitions of the following terms used in this part are set forth in the Student Assistance General Provisions, 34 CFR part 668:

Academic year

Campus-based programs

Dependent student

Eligible program

Eligible student

Enrolled

Expected family contribution

Student Loan Law: 34 C.F.R. § 682.215 Income-based repayment plan.

(a) Definitions. As used in this section—

(1) Adjusted gross income (AGI) means the borrower’s adjusted gross income as reported to the Internal Revenue Service. For a married borrower filing jointly, AGI includes both the borrower’s and spouse’s income. For a married borrower filing separately, AGI includes only the borrower’s income.

Student Loan Law: 34 C.F.R. § 682.212 Prohibited transactions.

(a) No points, premiums, payments, or additional interest of any kind may be paid or otherwise extended to any eligible lender or other party in order to—

(1) Secure funds for making loans; or

(2) Induce a lender to make loans to either the students or the parents of students of a particular school or particular category of students or their parents.

Student Loan Law: 34 C.F.R. § 685.219 Public Service Loan Forgiveness Program (PSLF).

(a) Purpose. The Public Service Loan Forgiveness Program is intended to encourage individuals to enter and continue in full-time public service employment by forgiving the remaining balance of their Direct loans after they satisfy the public service and loan payment requirements of this section.

(b) Definitions. The following definitions apply to this section:

Student Loan Law: 34 C.F.R. § 685.205 Forbearance.

(a) General. “Forbearance” means permitting the temporary cessation of payments, allowing an extension of time for making payments, or temporarily accepting smaller payments than previously scheduled. The borrower has the option to choose the form of forbearance. Except as provided in paragraph (b)(9) of this section, if payments of interest are forborne, they are capitalized.

Student Loan Law: 34 C.F.R. § 685.411 Transfer to the Secretary of the borrower's right of recovery against third parties.

(a)15 Upon the granting of any discharge under this subpart, the borrower is deemed to have assigned to, and relinquished in favor of, the Secretary any right to a loan refund (up to the amount discharged) that the borrower may have by contract or applicable law with respect to the loan or the contract for educational services for which the loan was received, against the school, its principals, its affiliates, and their successors, its sureties, and any private fund.

Student Loan Law: 34 C.F.R. § 685.212 Discharge of a loan obligation.

(a) Death.

(1) If a borrower (or a student on whose behalf a parent borrowed a Direct PLUS Loan) dies, the Secretary discharges the obligation of the borrower and any endorser to make any further payments on the loan based on—

(i) An original or certified copy of the death certificate;

(ii) An accurate and complete photocopy of the original or certified copy of the death certificate;

Student Loan Law: 34 C.F.R. § 685.206 Borrower responsibilities and defenses.

(a) The borrower must give the school the following information as part of the origination process for a Direct Subsidized, Direct Unsubsidized, or Direct PLUS Loan:

(1) A statement, as described in 34 CFR Part 668, that the loan will be used for the cost of the student’s attendance.

(2) Information demonstrating that the borrower is eligible for the loan.

Student Loan Law: Listing of Provisions, Source, and Authority

TITLE 34—EDUCATION

SUBTITLE B—REGULATIONS OF THE OFFICES OF THE DEPARTMENT OF EDUCATION

CHAPTER VI—OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION

PART 685—WILLIAM D. FORD FEDERAL DIRECT LOAN PROGRAM

SUBPART A—PURPOSE AND SCOPE

34 C.F.R. sec.

* * *

685.102 Definitions.

* * *

Student Loan Law: 34 C.F.R. § 685.213 Total and permanent disability discharge.

(a) General.

(1) A borrower’s Direct Loan is discharged if the borrower becomes totally and permanently disabled, as defined in § 685.102(b), and satisfies the eligibility requirements in this section.

(2) For a borrower who becomes totally and permanently disabled as described in paragraph (1) of the definition of that term in § 685.102(b), the borrower’s loan discharge application is processed in accordance with paragraph (b) of this section.