(a) Accept and review each loan application;
(b) Determine the applicant’s eligibility and continued eligibility;
(c) Collect any balance which may become due as a result of default on any loan, for which purpose the board of trustees shall have all the same authority as they have for the guaranteed student loan program; and
(d) Provide by rule for:
(i) A mechanism for informing students of the availability of the loans;
(ii) The creation of all applications, forms, promissory notes and other instruments necessary for the administration of the program; and
(iii) Any other items necessary for the administration of the program.
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