(1) DEFINITIONS.—As used in this section, the term:(a) “Default” means the failure to repay a student loan according to the terms agreed to in the promissory note.
(b) “Delinquency” means the failure to make a student loan payment when it is due.
(c) “Student loan” means a federal-guaranteed or state-guaranteed loan for the purposes of postsecondary education.
(d) “Work-conditional scholarship” means an award of financial aid for a student to further his or her education which imposes an obligation on the student to complete certain work-related requirements to receive or to continue receiving the scholarship.
(2) STUDENT LOAN DEFAULT; DELINQUENCY.—The department or a board may not suspend or revoke a license that it has issued to any person who is in default on or delinquent in the payment of his or her student loans solely on the basis of such default or delinquency.
(3) WORK-CONDITIONAL SCHOLARSHIP DEFAULT.—The department or a board may not suspend or revoke a license that it has issued to any person who is in default on the satisfaction of the requirements of his or her work-conditional scholarship solely on the basis of such default.
