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TITLE 19EDUCATION
PART 1TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 21STUDENT SERVICES
SUBCHAPTER IFUTURE TEACHER LOAN PROGRAM
RULE §21.240Cancellation of Certain Loan Repayments

(a) The board may cancel the repayment of a loan received by a student who is regularly employed by a school district in the state and is teaching a subject considered to be in critical need of teachers under rules adopted by the State Board of Education.

(b) A person who wishes to apply for a loan cancellation must enter into a contract with the board at the time the loan is requested that provides the following:

  (1) a payment is not due from the person as long as he or she is employed by a school district in this state and is teaching a subject considered to be in critical need of teachers under rules adopted by the State Board of Education;

  (2) half of the total amount of the loan plus interest due is to be canceled after the person has taught a subject considered to be in critical need of teachers for two school years, and the remainder is to be canceled after the person has taught a subject considered to be in critical need of teachers for two additional school years;

  (3) repayment of the loan and interest is to begin immediately if the person leaves employment with a school district in this state or discontinues teaching a subject considered to be in critical need of teachers before the end of two school years after the date the person began teaching;

  (4) repayment of one-half of the loan and interest is to begin immediately if the person ceases to teach in a school district in this state or discontinues teaching a subject considered to in critical need of teachers before the end of four school years after the date the person began teaching;

  (5) on completion of four years of teaching, the loan, principal, and interest, shall be fully canceled; and

  (6) interest continues to accrue until the loan is canceled or repaid.

(c) The board shall publicize the availability of the loan cancellation procedures provided by this section at institutions of higher education that offer approved teacher education programs.


Source Note: The provisions of this §21.240 adopted to be effective December 17, 1984, 9 TexReg 6127.

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