| (a) The Board shall retain the right to determine the
eligibility of lenders and holders of education loans to which payments
may be made. An eligible lender or holder shall, in general, make
or hold education loans made to individuals for purposes of undergraduate,
medical and graduate medical education and shall not be any private
individual. An eligible lender or holder may be, but is not limited
to, a bank, savings and loan association, credit union, institution
of higher education, student loans secondary market, governmental
agency, or private foundation.
(b) To be eligible for repayment, an education loan
must:
(1) be evidenced by a promissory note for loans to
pay for the cost of attendance for undergraduate or graduate education;
(2) not be in default at the time of the teacher's
application;
(3) not have an existing obligation to provide service
for loan forgiveness through another program;
(4) not be subject to repayment through another student
loan repayment or loan forgiveness program;
(5) if the loan was consolidated with other loans,
the teacher must provide documentation of the portion of the consolidated
debt that was originated to pay for the cost of attendance for the
teacher's undergraduate or graduate education; and
(6) not be an education loan made to oneself from one's
own insurance policy or pension plan or from the insurance policy
or pension plan of a spouse or other relative.
|
| Source Note: The provisions of this §23.292 adopted to be effective August 30, 2016, 41 TexReg 6484; transferred effective December 15, 2016, as published in the Texas Register November 25, 2016, 41 TexReg 9341 |
