| (a) Institutions that are eligible for Texas B-On-Time loans are institutions of higher education as defined in Texas Education Code, §61.003(8), and private or independent institutions of higher education as defined in Texas Education Code, §61.003(15). (b) In any academic year, if there are insufficient funds available to provide Texas B-On-Time loans to all eligible students, the Board will allocate funds to the institutions in proportion to the size of their full-time undergraduate populations. The institutions shall award the loans to the students according to financial need. |
