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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 42 - Public Health |
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Chapter I - Public Health Service, Department of Health and Human Services |
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SubChapter D - Grants |
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Part 60 - Health Education Assistance Loan Program |
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Subpart C - The Loan |
§ 60.17 - Security and endorsement.
Latest version.
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§ 60.17 Security and endorsement.
(a) A HEAL loan must be made without security.
(b) With one exception, it must also be made without endorsement. If a borrower is a minor and cannot under State law create a legally binding obligation by his or her own signature, a lender may require an endorsement by another person on the borrower's HEAL note. For purposes of this paragraph, an “endorsement” means a signature of anyone other than the borrower who is to assume either primary or secondary liability on the note.