In addition to the words and terms defined in Texas Administrative
Code, §22.1 of this title (relating to Definitions) the following
words and terms, when used in this subchapter, shall have the following
meanings, unless the context clearly indicates otherwise.
(1) Cosigner--one who signs a student loan promissory
note and thereby assumes liability for the debt and all fees and expenses
associated with the note and who is not a direct beneficiary of the
proceeds of the loan.
(2) Default--the failure of a borrower and cosigner,
if any, to make loan installment payments when due for a total of
180 days.
(3) Forbearance--permission from Board staff, granted
through documented loan program policies and procedures, that allows
a borrower to cease payments temporarily, or allows an extension of
time for making payments, or temporarily reduces the payment amount
from the amount that was previously scheduled.
(4) Fund--the Texas Opportunity Plan Fund as created
by the Constitution of the State of Texas, Article III, 50b.
(5) High-demand credential--undergraduate degrees,
certificates, or short-term credentials identified by the Board in
consultation with the Texas Workforce Commission, Texas Workforce
Investment Council, and the Governor's Office of Economic Development
and Tourism as filling critical workforce needs in the State while
providing a high-value credential to students upon completion.
(6) Program--the Future Occupations & Reskilling
Workforce Advancement to Reach Demand (FORWARD) Loan Program.
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