Student Loan Law: 16.4.1.3 Timing of Disclosures
There are three sets of required disclosures: (1) application and solicitation; (2) loan approval; and (3) final and separate timing provisions for each.
The application or solicitation disclosures may be provided on or with the application or solicitation.168 The term “solicitation” is defined as an offer of credit that does not require the consumer to complete an application. This also includes a “firm offer of credit” as defined in the Fair Credit Reporting Act.169