§ 1019. Definitions

In this part:

• (1) The term “agent” means an officer or employee of a covered institution or an institution-affiliated organization.
• (2) The term “covered institution” means any institution of higher education, as such term is defined in section 1002 of this title , that receives any Federal funding or assistance.
• (3) The term “education loan” (except when used as part of the term “private education loan”) means—
  • (A) any loan made, insured, or guaranteed under part B of subchapter IV;
  • (B) any loan made under part D of subchapter IV; or
  • (C) a private education loan.
• (4) The term “eligible lender” has the meaning given such term in section 1085(d) of this title .
• (5) The term “institution-affiliated organization”—
  • (A) means any organization that—
    • (i) is directly or indirectly related to a covered institution; and
    • (ii) is engaged in the practice of recommending, promoting, or endorsing education loans for students attending such covered institution or the families of such students;
  • (B) may include an alumni organization, athletic organization, foundation, or social, academic, or professional organization, of a covered institution; and
  • (C) notwithstanding subparagraphs (A) and (B), does not include any lender with respect to any education loan secured, made, or extended by such lender.
• (6) The term “lender” (except when used as part of the terms “eligible lender” and “private educational lender”)—
  • (A) means—
    • (i) in the case of a loan made, insured, or guaranteed under part B of subchapter IV, an eligible lender;
    • (ii) in the case of any loan issued or provided to a student under part D of subchapter IV, the Secretary; and
    • (iii) in the case of a private education loan, a private educational lender as defined in section 1650 of title 15 ; and
  • (B) includes any other person engaged in the business of securing, making, or extending education loans on behalf of the lender.
• (7) The term “officer” includes a director or trustee of a covered institution or institution-affiliated organization, if such individual is treated as an employee of such covered institution or institution-affiliated organization, respectively.
• (8) The term “preferred lender arrangement”—
  • (A) means an arrangement or agreement between a lender and a covered institution or an institution-affiliated organization of such covered institution—
    • (i) under which a lender provides or otherwise issues education loans to the students attending such covered institution or the families of such students; and
    • (ii) that relates to such covered institution or such institution-affiliated organization recommending, promoting, or endorsing the education loan products of the lender; and
  • (B) does not include—
    • (i) arrangements or agreements with respect to loans under part D of subchapter IV; or
    • (ii) arrangements or agreements with respect to loans that originate through the auction pilot program under section 1099d(b) of this title .
• (9) The term “private education loan” has the meaning given the term in section 1650 of title 15 .