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Section 348.017 - Requirements for contracts between post-secondary institutions of education and third party financial firms for disbursement and management of financial aid funds.

OR Rev Stat § 348.017 (2019) (N/A)
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(2) A contract between a public or private post-secondary institution of education and a third party financial firm for services described in subsection (1) of this section may not permit:

(a) Revenue sharing;

(b) The third party financial firm to charge a fee for the initial disbursement of the financial aid funds in an academic term to the student in a paper check or in an electronic funds transfer;

(c) The third party financial firm to charge a transaction fee for debit or similar transactions from an account; or

(d) The third party financial firm to charge a fee for inactivity in an account.

(3) A public or private post-secondary institution of education that contracts with a third party financial firm shall, after redacting from the contract information exempted from disclosure under ORS 192.311 to 192.478:

(a) Make the contract available for public inspection; and

(b) Publish the contract on the website operated by or for the public or private post-secondary institution of education. [2015 c.633 §2]

Note: See note under 348.015.

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Section 348.015 - Definitions.
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Section 348.100 - Student loan information provided to students enrolled in institutions of higher education.