LAC 28:IV.2011. Responsibilities of LOSFA

A. LOSFA shall: 1. evaluate documentation provided by applicants to substantiate the information provided on the application; 2. select program participants based on the documentation provided and the applicants’ ability to pay student loans; 3. maintain program service agreements; 4. pay program funds to the program participant’s eligible student loan holder with instructions that the funds are to be used to reduce the outstanding principal amount due on the loan(s); 5. maintain a secure database of all information collected on recipients and former recipients, including name, address, Social Security number, name of the institution(s) to which funds were disbursed, and amounts disbursed.