(a) FSL. The interest rate charged for loans shall
be determined from time to time by the Commissioner, shall be simple
interest, and shall accrue on the outstanding principal from the date
of disbursement. FSLs made pursuant to this subchapter are eligible
for interest subsidy and interest is charged to the borrower in accordance
with the Higher Education Act of 1965, as amended, 20 U.S.C. §§1071
- 1087-4, and 34 Code of Federal Regulations Part 682.
(b) CAL. The interest rate charged for loans shall
be set from time to time by the Commissioner, shall be simple interest,
and shall begin to accrue on the outstanding principal from the date
of disbursement. These loans are not eligible for interest subsidy.
(c) HEAL. The interest rate charged for loans shall
be determined from time to time by the Commissioner, and interest
shall accrue on the outstanding principal from the date of disbursement.
(d) HELP. The interest rate charged for loans shall
be determined from time to time by the Commissioner, and interest
shall accrue on the outstanding principal.
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Source Note: The provisions of this §22.51 adopted to be effective May 22, 2003, 28 TexReg 3950; transferred effective June 1, 2017, as published in the Texas Register May 19, 2017, 42 TexReg 2739; amended to be effective December 5, 2019, 44 TexReg 7381 |