§ 20-3-356. Interests of Bondholders Protected
While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of such bonds, nor will the state itself in […]
§ 20-3-387. Eligibility for Education Loan Forgiveness; Availability of Funds
No entitlement to funds is created by this subpart. Eligibility for education loan forgiveness shall be dependent on funding through appropriations, as well as all other conditions of eligibility, as determined by the authority. In the event funds available to the authority for any of the programs listed in Code Section 20-3-385 are not sufficient […]
§ 20-3-357. Termination or Dissolution of Authority
Upon termination or dissolution of the authority, all assets, rights, and properties of the authority under the authority of this subpart shall pass to and be vested in the state to be used for educational purposes, subject to the rights of lienholders and other creditors under this subpart; provided, however, that no such termination or […]
§ 20-3-390. Legislative Findings; Purpose of Subpart
The General Assembly finds that a substantial number of qualified Georgia students are not financially able to meet the costs of obtaining a postsecondary education due to a lack of family resources; that it would not be sound public policy to expect such students to borrow the total amount of funds needed to meet such […]
§ 20-3-358. SubPart And Part Deemed Supplemental to Other Laws
This subpart and part shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, shall be regarded as supplemental and additional to any powers conferred by other laws upon the authority, and shall not be regarded as in derogation of any such powers; provided, however, that the […]
§ 20-3-391. State Student Incentive Grant Program Authorized; Eligible Students and Schools
The authority is authorized to establish and administer a program to provide state student incentive grants to students enrolled at the undergraduate level who demonstrate a substantial degree of need for such financial assistance as provided for in the federal Higher Education Act of 1965 (P.L. 89-329), as amended, relative to state student incentive grant […]
§ 20-3-370. Legislative Findings; Purpose of Subpart
The General Assembly finds that students and parents are not always able to obtain educational loan assistance from a commercial lender under the Georgia Higher Education Loan Program provided for in Part 2 of this article; that a need exists to make additional educational loan funds available to students and parents; and that shortages exist […]
§ 20-3-395. Definitions
As used in this subpart, the term: “Cost of attendance” of a student means the cost of attendance calculated in accordance with Title IV. “Eligible high school” has the same meaning as provided in Code Section 20-3-519. “Eligible postsecondary institution” means: A unit of the University System of Georgia that offers associate or baccalaureate degrees; […]
§ 20-3-371. Definitions
As used in this subpart, the term: “School” means “school” as such term is defined in paragraph (18) of Code Section 20-3-262 and in regulations of the authority. “Student” or “eligible student” means a “student” or “eligible student” as such term is defined in paragraph (21) of Code Section 20-3-262 and in regulations of the […]
§ 20-3-372. State Funded Educational Loan Program Authorized; Powers of Authority
The authority is authorized to be a lender in the Georgia Higher Education Loan Program, as provided for in Part 2 of this article, and to establish and administer a state direct educational loan program pursuant to this subpart. The authority is authorized to prescribe all rules, regulations, policies, and procedures necessary or convenient for […]