§ 20-3-375. Income Credited to Authority Administration Fund; Transfer of Surplus to General Loan Fund
All income earned by the authority on funds held under this subpart, including earnings on educational loan trust fund assets unless otherwise provided for in the terms of such trust fund agreements, shall be credited to the authority administration fund for the uses prescribed in Code Section 20-3-318. The board of directors is authorized, in […]
§ 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 […]
§ 20-3-371. 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 […]
§ 20-3-373. General Loan Fund
The authority shall maintain a general loan fund to which shall be credited: State funds appropriated for use by the authority for educational loan purposes as specified in this subpart other than service cancelable loans; Unrestricted moneys received by gift or otherwise and other moneys available for and determined by the authority to be used […]
§ 20-3-374. Service Cancelable Loan Fund; Authorized Types of Service Cancelable Educational Loans
The authority shall maintain a service cancelable loan fund to which shall be credited: State funds appropriated for use by the authority for service cancelable loan purposes; Unrestricted moneys received by gift or otherwise and other moneys available for and determined by the authority to be available for the purposes of the fund; and Outstanding […]