Security and endorsement.

34 C.F.R. § 681.17
in effectEffective: 2024-07-01
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(a) A HEAL loan must be made without security. (b) With one exception, it must also be made without endorsement. If a borrower is a minor and cannot under State law create a legally binding obligation by his or her own signature, a lender may require an endorsement by another person on the borrower's HEAL note. For purposes of this paragraph, an “endorsement” means a signature of anyone other than the borrower who is to assume either primary or secondary liability on the note.

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