|(a) Change in reasonable expenses. The maximum amount of the loan to any qualified applicant for an academic year is $1,500, but shall not exceed the amount that the student needs in order to meet reasonable expenses as a student. A change in either financial resources or reasonable expenses of the student which results in an increase in the financial need of the student may make the student eligible for additional loan funds. A change in either financial resources or reasonable expenses of the student which results in a decrease in the financial need of the student shall make the student responsible for the immediate repayment of any overcommitment of loan funds. Repayment may be restored to the fund by a cash payment or by the reduction of any pending loan disbursement to the student. (b) Maximum amount of loan. The total outstanding principal balance to any individual student may not exceed $7,500 at any time. (c) Financial
resources available to the applicant. Financial resources available to the applicant shall be determined by an analysis prepared by College Scholarship Service or American College Testing Program which the applicant submits, or by another similar method as described on the application. (d) Reasonable expenses for a student. Reasonable expenses for a student at an eligible institution shall be determined by the commissioner after consultation with representatives of the eligible institution. Lists of reasonable expenses for typical students shall be submitted to the commissioner by the eligible institution prior to April 1 of each year for use in the following summer session and in the following academic year. The lists shall follow such format as may be prescribed by the commissioner. Each eligible institution may submit as many lists of reasonable expenses as is required to properly reflect the different typical expense categories of students attending the
institution. When more than one list is submitted, each list should be labeled so as to identify the category of students to be served by that list. On individual loan applications, the amounts listed for typical students must be adjusted downward when necessary to reflect the circumstances of the applicant. If a listed amount must be increased to properly reflect the reasonable expenses of an individual applicant, then justification for the increased amount must accompany the individual application with such increased amount subject to approval or disapproval by the commissioner. (e) Determination of amount of loan. The amount of the loan shall be no greater than the amount reasonable expenses as a student exceeds the financial resources available to the applicant and in no event greater than the maximum amount of loan as specified in subsection (b) of this section. (f) Identification of student records. All records of each student who is a
borrower under the Texas Opportunity Plan Fund shall be so identified in the office of the registrar at each participating institution. Each student borrower under said program shall obtain a release authorized by the Hinson-Hazlewood College Student Loan Program officer before any records are made available to him by the registrar. Such release may be authorized by the Hinson-Hazlewood College Student Loan Program officer following an exit interview as prescribed in subsection (h) of this section. (g) Preloan interview. Each applicant shall be interviewed by the Texas Opportunity Plan Loan officer or his designated representative prior to the approval of an initial loan under the Act. The Hinson-Hazlewood College Student Loan Program officer or his designated representative shall inform the applicant of his responsibilities as a borrower. (h) Exit interview and student status report. Prior to the end of each enrollment period an exit interview
shall be conducted by the Hinson-Hazlewood College Student Loan Program officer or his designated representative with each student borrower who is currently enrolled in the participating institution. A roster of student borrowers will be forwarded to each participating institution by the board prior to the end of each enrollment period. Information on each student borrower shall be obtained on the format prescribed by the board.