Section 675.Sec. 36 - NEWA private education lender shall retain the following records for a period of not less than 6 years after the termination of a private education loan account:
1. Any correspondence or communication related to the private education loan, including, without limitation, any electronic mail, notes or transcript of a telephone call, or mail.2. Any documentation, disclosure, notice or written release required by this chapter, chapter 670B of NRS or chapter 670B of NAC.3. The complete private education loan file including, without limitation: (a) The loan agreement between the private education loan borrower and the private education lender and any supporting documentation evidencing the borrower's obligation to the lender;(b) The servicing contract between the private education lender and the student loan servicer;(c) Documentation of the monthly income of the private education loan borrower at the time of the origination of the private education loan, any modification of the private education loan and the beginning of any repayment plan or forbearance, as applicable; and(d) The payment history on the private education loan account, including, without limitation, the date of each payment received, all interest and fees charged and the allocation of payments to the amount of the principal, interest and fees.Nev. Admin. Code § 675.Sec. 36
Added by R120-23A, eff. 11/15/2024