Sec. 56.453. ADMINISTRATION OF PROGRAM; RULES

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(a) The coordinating board shall:
(1) administer the Texas B-On-time loan program;
(2) determine the repayment and other terms of a Texas B-On-time loan; and
(3) in consultation with the student financial aid officers of eligible institutions, adopt any rules necessary to implement the program or this subchapter.
(b) The coordinating board may charge and collect a loan origination fee from a person who receives a Texas B-On-time loan to be used by the board to pay for the operating expenses for making loans under this subchapter.
(c) The total amount of Texas B-On-time loans awarded may not exceed the amount available in the Texas B-On-time student loan account under Section 56.463.

Added by Acts 2003, 78th Leg., ch. 779, Sec. 1, eff. June 20, 2003.

                    
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