|(a) When a scholar who has received a loan authorized by this law shall have failed or refused to make as many as six monthly payments due in accordance with a promissory note(s), then the full amount of remaining principal, interest, and/or late charges shall immediately become due and payable. The scholar's name and last known address and other information as requested by the commissioner shall be reported to the attorney general. Suit for the remaining sum shall be instituted by the attorney general or any county or district attorney acting for him in the county of the scholar's residence or in Travis County, unless the attorney general shall find reasonable justification for delaying suit and shall so advise the commissioner in writing. (b) Upon notification by the commissioner of default on this loan, the educational institution shall cause the records, including transcripts of the scholar, to become unavailable to him or her or any
other person outside the institution until the participating institution has been notified by the commissioner that such default has been corrected. Should the default continue beyond at least 60 days from the date suit service was obtained, the commissioner will cause a judgment to be entered which may be filed in the county records where the service was obtained and will release such judgment once the scholar has completed the repayment of the debt as stipulated in the judgment. (c) In all cases of default, the scholar will be responsible for the payment of principal and all accrued charges, including interest, late charges, skiptracing fees, court costs, and attorney fees.