§11493.__Higher Education Loan Purchase Program

1.__Program.__The authority is authorized to carry out the program by issuing bonds for the purpose of financing eligible loans and may use any net earnings on those bonds to administer the program, to pay or further secure the bonds and to make eligible loans, except as otherwise provided in subsection 2.

2.__Authorization.__The authority is not authorized to originate loans other than consolidation loans, except that, if the authority finds that there is a significant impediment to providing students the benefits of an allocation of tax-exempt bond cap without originating loans, it may adopt rules pursuant to subsection 3 to allow the authority to originate other loans.

3.__Rules.__The authority shall adopt rules to implement and administer the program.__All rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

§11494.__Records confidential

1.__Confidential information.__Records containing any information acquired by the authority or a member, employee or agent of the authority from borrowers whose loans are financed by the authority are confidential for purposes of Title 1, section 402, subsection 3, paragraph A.

2.__Wrongful disclosure prohibited.__A member, employee, agent, other representative of the authority or other person may not knowingly divulge or disclose records declared confidential by this section, except that the authority may, in its discretion, make or authorize any disclosure of information of the following types:

A.__Impersonal, statistical or general information;

B.__Information to an eligible lender or credit reporting service;

C.__Information necessary to comply with the federal Higher Education Act of 1965, Public Law 89-329, 79 Stat. 1219, Title IV, as amended, or the federal Health Professions Educational Assistance Act of 1976, Public Law 94-484, 90 Stat. 2243, as amended, in each case along with any successor provision, or any administrative requirement under either of those Acts or of any other federal or state law or