California Code of Regulations › Title 5 - Education › Division 4 - California Student Aid Commission › Chapter 1 - California Student Aid Commission › Article 14 - Assumption Program of Loans for Education › Section 30707 - Loan Payments

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A program
				  participant may redeem the conditional agreement and the Commission shall make loan
				  payments, pursuant to the loan assumption agreement and as provided in Section
				  30706 and subsection (c), when the
				  Commission has received the following information on forms provided by the
				  Commission for each qualifying year of teaching:
(1) For student or district intern program
				  participants, documentation certifying that the program participant has received an
				  initial teaching credential; and
(2) The
				  following information for each applicable year of employment subject to the loan
				  assumption agreement:
(A) name and social security
				  number; and
(B) authorization for the
				  Commission to change the teaching service area if the school does not qualify under
				  the current designated service area; and
(C) name, address, district, county, and
				  California Department of Education School Code of the employer; and
(D) the updated participant's name, mailing
				  address, city, state, zip code, email address and phone number, if applicable;
				  and
(E) authorization for the employer
				  to release information needed to qualify program participants for program benefits;
				  and
(F) verification the program
				  participant provided teaching service in an eligible school, at a public school
				  ranked in the lowest two deciles on the Academic Performance Index, or in an area
				  that was designated as a current or projected shortage area at the time of
				  application pursuant to the teaching service area indicated on the signed loan
				  assumption agreement; and
(G) program
				  participant's signature under penalty of perjury under the laws of the State of
				  California.
(3) The following
				  employment information from the program participant's employer(s) for each
				  applicable year of employment subject to the loan assumption agreement:
(A) statement that the program participant
				  completed a school year of teaching on a full-time basis, or, if the program
				  participant is employed on a part-time basis, the percentage of employment as
				  related to a full-time school year; and
(B) verification if the program participant
				  provided service as a Special Education teacher and area of specialization, if
				  applicable; and
(C) the grade level in
				  which the program participant provided the instruction; and
(D) the subject area the program participant
				  instructed for the fall and spring term
(E) if the program participant will be employed by
				  the school district for the upcoming school year; and
(F) employer representative's printed or typed
				  name, telephone number, and date; and
(G) the name of school, school district, and
				  school county; and
(H) employer
				  representative's signature under penalty of perjury under the laws of the State of
				  California.
(4) The following
				  information shall be provided by the program participant or the lender and verified
				  by the Commission for each loan that qualifies for payment under the program and the
				  loan assumption agreement:
(A) for participants
				  who have completed their first year of eligible teaching service or have
				  consolidated student loans after their first year of qualified teaching service, the
				  following information from each lending institution for each loan that qualifies for
				  payment under the program and the loan assumption agreement:
1. program participant's name, social security
				  number, phone number, date, and lending institution's contact information;
				  and
2. program participant's signature
				  authorizing the lending institution official to complete and release information
				  needed to qualify participant for program benefits; and
3. account number for each loan; and
4. loan type; and
5. if the loan is a consolidated loan;
				  and
6. if the loan is subsidized or
				  unsubsidized; and
7. interest rate for
				  each loan; and
8. disbursement date for
				  each loan; and
9. payoff amount for each
				  loan as of June 30; and
10. indication
				  for each loan whether the loan is in default; and
11. lending institution/servicer name;
				  and
12. U.S. Dept of Education lender or
				  servicer ID number; and
13. address for
				  where payment is to be sent; and
14. a
				  signature of the lending institution official under penalty of perjury under the
				  laws of the State of California; and
15.
				  printed name of the lending institution official; and
16. e-mail address of the lending institution
				  official; and
17. telephone number of
				  the lending institution official;
(B) for program participants who have completed a
				  subsequent year of eligible teaching service, the following information shall be
				  provided by the program participant and verified by the Commission for each loan
				  that qualifies for payment under the program and the loan assumption agreement:
1. program participant's name, social security
				  number, phone number; and
2. Lender
				  Name(s); and
3. Account number for each
				  loan; and
4. Approximate June 30 balance
				  for each loan; and
5. Interest Rate for
				  each loan.
(5) The
				  Commission has determined that the program participant has satisfied the
				  requirements for payment to be made under the loan assumption
				  agreement.