MEMORANDUM OF UNDERSTANDING
BETWEEN
THE MONTANA GUARANTEED STUDENT LOAN PROGRAM
AND GREAT FALLS COLLEGE OF TECHNOLOGY
This Agreement is an inter-agency agreement setting forth agreements and
understandings between the Montana Guaranteed Student Loan Program (MGSLP), 2500
Broadway, P. O. Box 203201, Helena, MT 59620-3201, an agency of the Montana University
System, and Montana State University – Great Falls College of Technology (MSU-Great Falls
COT). 2100 16th Ave S, Great Falls, MT 59406-6010, a unit of the Montana University System.
Purpose. The purpose of this MOU is to set forth THE Parties’ agreement for the
provision of student loan-related services by MGSLP to MUS-Great Falls COT. MSU-Great
Falls COT has need for the stated services and MGSLP wishes to provide these services under
the terms set forth in this MOU.
Services To Be Provided and MGSLP Responsibilities. MGSLP agrees to the following:
1. The provision of student loan delinquency and default prevention services, including but
not limited to, services to resolve delinquent borrower reports provided by loan servicers
and including direct contact with students to resolve delinquencies;
2. The provision of financial literacy education services, including in-person counseling and
website information to students to enable students to better manage loan debts, improve
budgeting skills, and make more informed financial decisions; and
3. Administrative services necessary and related to the above services.
MSU-GREAT FALLS COT Responsibilities. In order to provide information to allow
MGSLP to provide the services in a timely and efficient manner, MSU-Great Falls COT will
provide access to student loan records and access to loan servicer reports and records.
Responsibilities of Both Parties. The parties will collaborate to develop efficient procedures
for the provision of these services.
Compliance with Laws, Regulations, Etc. MGSLP and MSU-Great Falls COT agree to
conduct their respective activities under this Agreement in a manner that complies with all
applicable laws, regulations, rules and ordinances of the federal, state and local government, as
well as the policies of the Board of Regents of Higher Education and MSU-Great Falls COT.
Exchange of Information. The Parties understand that the performance of the services set forth
herein will involve the exchange of pertinent student loan information within the university
system. The Parties agree to develop a protocol for the exchange of the necessary information
which will allow for this exchange of information in accordance with state and federal law,
including the Family Educational Rights and Privacy Act (FERPA).
Term of Agreement. This agreement will take effect immediately and will continue in effect
until terminated by either party upon 90 days’ written notice.
Cost. MGSLP intends to provide these services without charge to MSU-Great Falls COT or its
students.
Signatories.
This Agreement is executed by the following authorized persons:
____________________________________ Date: __________________________
Montana Guaranteed Student Loan Program
_____________________________________
The University of Montana
Date: ____________________________