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TITLE 19EDUCATION
PART 1TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 21STUDENT SERVICES
SUBCHAPTER LPAUL DOUGLAS TEACHER SCHOLARSHIP PROGRAM
RULE §21.322Minimum Repayment Amounts

(a) Although loans may be prepaid at any time without penalty, except for capitalized interest, repayment shall begin as provided in §21.321 of this title (relating to Repayment of Loans) and shall extend over such period authorized in §21.319 of this title (relating to Period of Loan).

(b) The board will provide a repayment schedule calling for the minimum payment amount sufficient to repay all loans made under this subchapter over the maximum authorized period. Annual repayments will amount to no less than $1,200 or the unpaid balance, whichever is less, unless the scholar's inability to pay this amount because of his or her financial condition has been established to the satisfaction of the board. The board shall not require repayments amounting to more than $1,200 annually unless higher payments are needed to complete the entire repayment within the 10-year period referred to in §21.319 of this title (relating to Period of Loan).


Source Note: The provisions of this §21.322 adopted to be effective January 5, 1994, 18 TexReg 9851.

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