| (a) Participation in the program may not exceed a total of five years. (b) The total annual loan repayments may not exceed the lesser of the following: (1) 15 percent of the total of all remaining scheduled payments of all education loans based upon a leveled payment schedule on the date of the annual application deadline; (2) the actual annual amount of the loan payments required by the note and holder of the education loans; or (3) an amount published on the Board's web site, at www.collegefortexans.com, as the average amount of resident tuition and required fees paid by a person enrolled full time at a qualifying institution for the most recent academic year, excluding summer school. (c) Repayments shall be made copayable to the child-care provider and the holder of the education loan notes. |
