20 U.S.C. § 1019 — Definitions

(1) “Agent.” “Agent” means an officer or employee of a covered institution or an institution-affiliated organization. (2) “Covered institution.” “Covered institution” means any institution of higher education, as that term is defined in section 1002 of this title, that receives any Federal funding or assistance. (3) “Education loan.” Except when it is part of the term “private education loan,” “education loan” means (A) a loan made, insured, or guaranteed under part B of subchapter IV; (B) a loan made under part D of subchapter IV; or (C) a private education loan. (4) “Eligible lender.” “Eligible lender” has the meaning given that term in section 1085(d) of this title. (5) “Institution-affiliated organization.” (A) “Institution-affiliated organization” means an organization that (i) is directly or indirectly related to a covered institution, and (ii) recommends, promotes, or endorses education loans for students attending that covered institution or the families of those students. (B) It may include an alumni organization, athletic organization, foundation, or social, academic, or professional organization of a covered institution. (C) Despite subparagraphs (A) and (B), it does not include a lender for any education loan that the lender secures, makes, or extends. (6) “Lender.” Except when it is part of the terms “eligible lender” and “private educational lender,” “lender” means (A) (i) for a loan made, insured, or guaranteed under part B of subchapter IV, an eligible lender; (ii) for a loan issued or provided to a student under part D of subchapter IV, the Secretary; and (iii) for a private education loan, a private educational lender as defined in section 1650 of title 15. “Lender” also includes any other person engaged in the business of securing, making, or extending education loans on behalf of the lender. (7) “Officer.” “Officer” includes a director or trustee of a covered institution or institution-affiliated organization if that individual is treated as an employee of the covered institution or institution-affiliated organization, respectively. (8) “Preferred lender arrangement.” (A) “Preferred lender arrangement” means an arrangement or agreement between a lender and a covered institution or an institution-affiliated organization of that covered institution (i) under which the lender provides or otherwise issues education loans to students attending that covered institution or the families of those students, and (ii) that relates to the covered institution or organization recommending, promoting, or endorsing the lender’s education-loan products. (B) It does not include (i) an arrangement or agreement concerning loans under part D of subchapter IV, or (ii) an arrangement or agreement concerning loans that originate through the auction pilot program under section 1099d(b) of this title. (9) “Private education loan.” “Private education loan” has the meaning given that term in section 1650 of title 15. This section does not define that term itself.