(a) An issuer of qualified student loan bonds authorized by Section 53B.47, Education Code, shall provide to the board together with its application for a reservation information required by board rule.
(b) The board may require an issuer described by Subsection (a) to provide information with its application, or to supplement the application with information, that includes:
(1) financial statements;
(2) portfolio amounts;
(3) default rates;
(4) descriptions of how bond proceeds are being used or spent; and
(5) other information required by the board.