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TITLE 19EDUCATION
PART 1TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 21STUDENT SERVICES
SUBCHAPTER DDMINORITY DOCTORAL INCENTIVE PROGRAM OF TEXAS
RULE §21.973Eligible Education Loan

An eligible loan is any loan made to an eligible student for educational purposes at the graduate or professional level that

  (1) is not made to oneself from one's own insurance policy, pension plan or from the private funds, insurance policy, or pension plan of a spouse or other relative;

  (2) is obtained in pursuit of a doctoral degree or a master's degree with a demonstrated commitment to pursue a doctoral degree;

  (3) is made to cover reasonable expenses related to attendance in the program;

  (4) is made during one year of an academic course of study that does not exceed four consecutive years or is among other eligible education loans made for an academic course of study that does not exceed four consecutive years;

  (5) does not exceed $14,000 during a twelve month period;

  (6) does not entail a service obligation;

  (7) will not be repaid through a similar program administered by the federal government, another state or territory of the United States, or by a foreign country;

  (8) is made at simple interest;

  (9) is evidenced by a promissory note providing for repayment of principal, interest, and any collections charges;

  (10) is made for the fall semester 1994 or after;

  (11) is made by an eligible lender; and

  (12) is an education loan for which payments are not more than 90 days past due at the time the program begins making payments on behalf of a qualified borrower

  (13) is a loan covered by terms of the guarantee of payment described in §21.980, Guarantee of Payment of Education Loans.


Source Note: The provisions of this §21.973 adopted to be effective November 28, 2004, 29 TexReg 10777

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