(1)The Commission shall be responsible for the implementation of all policies and procedures for the administration of the Medical-Dental Student Loan Program under the provision of ORS 348.040 through 348.095.
(2)The Commission may establish rules for the administration of the program in those instances in which the state law allows or mandates discretion in interpretation and implementation.
(3)The Commission shall have authority to approve loan applications submitted by the institution.
(4)The Division shall be responsible for the loan of funds from the Common School Fund to eligible students under this program and for the subsequent collection of such loans.
(5)The Division shall prepare the Schedule of Payments.
(6)The institution shall be responsible for the initial processing of applications for this program, the assessment of eligibility and need for the loan, periodical reports to the Commission and Division with regard to borrowers status and recommendations to the Commission on submitted applications.
(7)The institution shall prepare the interim notes in compliance with the requirements of the Division.
(8)Prior to the borrower leaving the institution, the institution shall conduct an exit interview, at which time the institution shall explain the repayment provisions of the loan and shall obtain the borrower’s signature on the Schedule of Payments.
Rule 575-050-0010 — Administrative Responsibility,