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TITLE 19EDUCATION
PART 1TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 21STUDENT SERVICES
SUBCHAPTER CHINSON-HAZLEWOOD COLLEGE STUDENT LOAN PROGRAM
RULE §21.56Requirements of Cosigner/Accommodation Party

(a) A cosigner/accommodation party shall:

  (1) be at least 21 years of age or older;

  (2) have a regular source of income;

  (3) have received a favorable evaluation of his/her credit report; and

  (4) reside in the United States or a U.S. territory and be a U.S. citizen or permanent resident of the United States.

(b) A spouse may not act as the cosigner/accommodation party for the student.

(c) CAL or HELP cosigners/ accommodation parties are guarantors of payment and not of collection; it is not necessary for the Board to demonstrate that the borrower is insolvent before it may pursue collection against the cosigner/accommodation party.


Source Note: The provisions of this §21.56 adopted to be effective May 22, 2003, 28 TexReg 3950; amended to be effective November 28, 2005, 30 TexReg 7855; amended to be effective May 16, 2006, 31 TexReg 3872

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