(a) The commission shall provide, with each application form for the Federal Family Education Loan Program a notice to the student informing him or her that, for purposes of collecting on a defaulted loan, the commission is entitled to seek employment, wage, and other information from the Employment Development Department on any person who defaults on a guaranteed student loan.
(b) A common application form may be utilized for student loans in compliance with the program eligibility and financial forms specified in Section 69534.1.