The details of this loan agreement may change from time to time, as provided by law. In the event of any opposition between this contract and the law, the law shall prevail. The amount of the outstanding student credit on the date is $100 (amount). The amount of student loans that [AGENCY] will make on your behalf under this Service Agreement is a maximum of $10,000 per calendar year and a total amount of $60,000 (maximum) over (no) years, subject to annual audits and recertification by the [AGENCY COMPONENT] to ensure that funds are available and to determine the status of the student loan subject. Secured loan – For people with lower credit scores, usually less than 700. The term “secure” means that the borrower must deposit collateral such as a house or car if the loan is not repaid. Therefore, the lender is guaranteed to receive an asset from the borrower if it is repaid.