| (a) The Commissioner may authorize Texas B-On-Time Loans to students at any eligible institution which certifies that the student: (1) is a resident of Texas as defined in this subchapter or beginning with the 2005-2006 academic year, be entitled, as a child of a member of the armed forces of the United States, to pay tuition at the rate provided for residents of this state under Texas Education Code, §54.058; and (2) meets one of the following academic requirements: (A) graduated not earlier than the 2002-2003 school year under the Recommended or Distinguished Achievement Program - Advanced High School Program (or its equivalent) from a public or private high school in Texas; (B) beginning with the 2005-2006 academic year, graduated not earlier than the 2002-2003 school year from a high school operated by the United States Department of Defense and at the time of graduation was a dependent child of a member of the armed forces of the United States; or (C) received an associate degree from an eligible institution not earlier than May 1, 2005; (3) has not been granted a baccalaureate degree; (4) is enrolled for a full-time course load, as determined by the institution, in an undergraduate degree or certificate program at an eligible institution; (5) is eligible for federal financial aid, except that the student is not required to meet any financial need requirements applicable to other financial aid programs. (b) A student is not required to be 18 years of age at the time that he or she establishes eligibility for participation in the program; for the purpose of any promissory note executed by a borrower, the defense that he or she was a minor at the time he or she executed a note shall not be available to him or her in any action arising on the note. (c) If program funds are not sufficient to provide Texas B-On-Time Loans to all qualified students, priority must be given to students with demonstrated financial need. |
| Source Note: The provisions of this §21.124 adopted to be effective December 7, 2003, 28 TexReg 10757; amended to be effective August 16, 2004, 29 TexReg 7975; amended to be effective November 28, 2005, 30 TexReg 7856; amended to be effective August 15, 2006, 31 TexReg 6332; amended to be effective November 29, 2011, 36 TexReg 8021 |
