The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) Approved teacher education program--A teacher education program whose graduates are eligible for certification by the State Board of Education. (2) Board--The Coordinating Board, Texas College and University System. (3) Commissioner--The commissioner of higher education, the chief executive officer of the board. (4) Cosigner--A cosigner of a note executed under the authority of the Future Teacher Loan Program shall be such a person signing a note, other than the loan recipient, who is over 21 years of age and who is gainfully employed or otherwise demonstrates financial responsibility. Such person may be a relative, except a spouse, and may not be a student. A cosigner is jointly and severally responsible for all promissory notes issued through the program
and signed by the maker and him or herself. (5) Fund--The future teacher loan fund. (6) Graduate student--Any student who is pursuing a program, or has a bachelor's degree and is enrolled in courses which are normally part of a program, leading to a graduate or professional degree or certificate at an institution of higher education and has successfully completed the equivalent of at least three years of full-time study at an institution of higher education either prior to entrance into the program or as part of the program itself. (7) Resident of Texas--A bona fide resident of Texas as defined in the Texas Education Code, §§54.052, 54.054, and 54.055. Nonresidents classified as Texas residents for purposes of paying Texas resident tuition and fees are excluded.