There is created a nonprofit corporation, which shall be known as the Tennessee student assistance corporation, to administer student assistance programs authorized by law, which corporation shall be registered with the secretary of state, and shall be subject to the corporate laws of this state, except as provided in parts 2, 3, and 6-9 of […]
The Tennessee student assistance corporation is governed by a board of directors consisting of the governor, the commissioner of education, the state treasurer, the comptroller of the treasury, the commissioner of finance and administration, the president of the Tennessee Independent Colleges and Universities Association, the president of the Tennessee Proprietary Business School Association, the president […]
It is the purpose and duty of the Tennessee student assistance corporation to: [Deleted by 2020 amendment.] Administer the provisions under law of state awards of financial assistance to needy students who are residents of the state under the terms and conditions prescribed in this part; Receive any gifts, contributions and donations from groups or […]
The Tennessee student assistance corporation is authorized and directed to promulgate rules governing the making of awards of financial assistance to students that the corporation deems necessary to carry out and to make effective the purposes of parts 2, 3, and 6-9 of this chapter.
The Tennessee student assistance corporation is authorized and empowered to: Invest and reinvest any funds of the corporation in treasury notes, bonds or other securities of the United States, or bonds of this state; and Deposit on interest any funds of the corporation in a bank or banks in this state, in which bank or […]
Requests for appropriations to support the programs of the Tennessee student assistance corporation mentioned in this part shall be presented to the higher education commission and, in the form and to the extent approved by the higher education commission, shall be submitted to the governor for consideration and inclusion in the budget document for the […]
The employees of the Tennessee student assistance corporation shall be entitled to the same employee benefits as state employees. The required employees’ contributions shall be paid by the participating employees, and the employers’ contributions and any other costs shall be paid by the Tennessee student assistance corporation rather than by the funds of the state.
Notwithstanding any law to the contrary, all state financial aid granted to students, whether in the form of a grant or loan, shall be first applied to tuition, room and board and the excess, if any, shall be distributed to the recipient.
In addition to the authority to promulgate the rules and regulations to effectuate chapter 519 of the Public Acts of 2012 relative to determinations of delinquency or default for student loans, the Tennessee student assistance corporation (TSAC) is authorized to promulgate necessary rules and regulations to determine whether any lawyer who is licensed by the […]
Notwithstanding any law to the contrary, if the governor has declared that a state of emergency exists, then the executive director of the student assistance corporation may temporarily suspend, modify, or waive any deadline or other non-academic requirement in statute, rule, or policy of any financial aid program authorized by parts 2, 3, and 6-9 […]
This section shall be known and may be cited as the “Tennessee Teaching Scholars Act.” The Tennessee student assistance corporation shall administer the Tennessee teaching scholars program for exemplary students who desire to enter the teaching force in this state. Participation in this program is limited to college juniors, seniors and post baccalaureate candidates admitted […]
