| (a) By August 31 of each year the Coordinating Board shall disseminate to institutions of higher education guidelines for calculating the tuition to be set aside during the upcoming academic year for the Texas B-On-Time Loan Program as established in Texas Education Code §56.465. (b) By September 30 of each year the Coordinating Board shall: (1) review data reported to it by institutions of higher education for the prior fiscal year regarding collected resident undergraduate designated tuition charged in excess of $46 per semester credit hour; (2) compare the amount collected by institutions with the amount deposited in the fund established by Texas Education Code §56.463; and (3) require institutions to reconcile, by December 31st of the same calendar year, any amounts deposited in the fund that are greater than or less than 5 percent of the amount reported in paragraph (1) of this section. |
