§ 37-51-15. Limitations on amounts of loans
Applicants who are granted loans may receive a loan in any amount, not exceeding two thousand four hundred dollars ($2,400.00) to any one applicant. Said amount is to be paid in annual, semiannual or quarterly installments not exceeding two hundred dollars ($200.00) per school year, and shall be used to defray part of the applicant’s […]
§ 37-51-17. Contract agreeing to terms and conditions of loans; suits on contracts
Each applicant, if an adult, or his parent or legal guardian in his behalf, if a minor, before being granted a loan shall enter into a contract with the State of Mississippi agreeing to the terms and conditions upon which the loan shall be made. Said contract shall include such terms and conditions as are […]
§ 37-51-19. Repayment of loans
Any loans made or granted to any applicant shall be made and based upon the following conditions of repayment: Repayment in full of the principal of the loan may be made at any time prior to three years after graduation from or termination of attendance in an approved school, plus simple interest at the rate […]
§ 37-51-21. Reduction of loans
The amount of any loan made or granted to any applicant shall be reduced by a credit at the rate of one hundred dollars ($100.00) per annum for each year from and after five years from the initial date of the granting of said loan that applicant continues to reside in the State of Mississippi. […]
§ 37-51-13. Applications for loans; certifications; transfers
An applicant shall not have to submit but one initial application for a loan; thereafter, he or she shall file a request for each additional year’s loan amount up to the maximum amount allowed. Accompanying each said request shall be a certification from the school which applicant is attending certifying that the applicant is in […]
§ 37-51-1. Legislative findings and declarations
It is hereby determined and declared that the state reaffirms its commitment and dedication to public school education; that nothing contained in this chapter shall be construed in any manner whatever to be an abandonment or impairment of public school education in this state; that the state calls upon all public school trustees, administrators, teachers, […]
§ 37-51-3. Administration of chapter
The terms and provisions of this chapter shall be administered and executed by the state educational finance commission. For the purpose of this chapter, the term “commission” shall mean “state educational finance commission” except where the context clearly indicates otherwise.
§ 37-51-5. State educational loan fund created
There shall be, and there is hereby, created in the state treasury, a special fund to be known as the “state educational loan fund.” The said fund shall consist of such amounts as may be paid into said fund by appropriation and also such amounts as may be returned to said fund as repayments, both […]
§ 37-51-7. General powers and duties of commission
It shall be the duty of the commission to receive and pass upon, allow or disallow, all applications for loans made by students who desire to receive a secular education in any of the grades one through twelve in any school in this state constituting a bona fide school as defined in a general regulation […]
§ 37-51-9. “Secular education of children” defined
The “secular education of children” as used in this chapter shall mean the education of children in those subjects, and only those subjects, which are required to be taught by state law to the same extent as those subjects are taught in the public schools of the state or which are provided in public schools […]