20-26-1103. Duties of board
20-26-1103. Duties of board. In discharging its duties in relation to the student loan program, the board shall: (1) act as guarantor and administrator on loans of money, upon terms and conditions that the board may prescribe, to assist persons attending or accepted for enrollment at an eligible educational institution to meet their educational expenses; (2) approve financial […]
20-26-1104. Repealed
20-26-1104. Repealed. Sec. 5, Ch. 39, L. 2013. History: En. Sec. 6, Ch. 691, L. 1979; amd. Sec. 3, Ch. 205, L. 1993; amd. Sec. 11, Ch. 243, L. 1997.
20-26-1105. Student loan account
20-26-1105. Student loan account. (1) There is a student loan account within the federal special revenue fund provided for in 17-2-102. (2) The board shall credit to the account established in subsection (1) all money designated for the student loan program by the United States or by any other public or private source. All expenses incurred by […]
20-26-1106. No state obligation
20-26-1106. No state obligation. The legislature is not obligated to appropriate any money to pay for student loan defaults. For the purpose of the student loan program, neither the board nor the agency may obligate the credit of the state. History: En. Sec. 8, Ch. 691, L. 1979; amd. Sec. 13, Ch. 243, L. 1997.
20-26-1107. Dissolution — disposition of money
20-26-1107. Dissolution — disposition of money. (1) The student loan program may not be dissolved until all contractual obligations have been satisfied and all loans have been paid by the borrower or, if in default, by the board or have been otherwise accounted for under Title IV of the Higher Education Act of 1965, as amended. […]
20-26-1108. through 20-26-1110 reserved
20-26-1108 through 20-26-1110 reserved.
20-26-1101. Definitions
20-26-1101. Definitions. As used in this part, unless the context clearly indicates otherwise, the following definitions apply: (1) ”Agency” means the entity designated by the board to administer student loans. (2) ”Board” means the board of regents of higher education. (3) ”Eligible educational institution” means any institution approved by the United States secretary of education as eligible to participate […]