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15-5-1903. Definitions.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-5-1903. Definitions.
As used in this subchapter:
(1)(A) “Education loan” means a loan made to a student or the parent, legal guardian, or sponsor of the student or to an eligible institution for the purpose of financing a student's attendance at the eligible institution.
(B) The loan may provide that the student or parent, legal guardian, sponsor of the student, or eligible institution may be held jointly and severally liable for the education loan;
(2) “Eligible institution” means any public or private postsecondary educational institution whose students are eligible for guaranteed educational loans, an institution of higher learning, or a vocational school as defined by rule of the Arkansas Development Finance Authority as implemented by the Student Loan Authority Division of the Arkansas Development Finance Authority;
(3) “Guaranteed educational loan” means a loan made in accordance with Title IV, Part B, of the Higher Education Act of 1965, 20 U.S.C. § 1071 et seq., or pursuant to an alternative educational loan program undertaken by the division and consistent with this subchapter, to a qualified borrower for payment of educational expenses incurred by a student while attending an eligible institution, the payment of principal of and interest on which is insured by the United States Secretary of Education under the Higher Education Act of 1965, by the Student Loan Guarantee Foundation of Arkansas, its successors or assigns, or by other guarantors as the division may approve;
(4) “Obligation”, “bond”, or “bonds” means any bond, note, certificate, or other evidence of indebtedness, whether or not the interest on the obligation shall be subject to federal income taxation;
(5) “Qualified borrower” means a student or the parent, legal guardian, or sponso
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-5-1903
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Stable record: arkansas_code:legal_authorities:15-5-1903
Source file: gov.ar.code.title.15.odt
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Passage SHA-256: bd39900f968e2932d58756421f8720978279bae5f52ee48a01efb8e2aa340362
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15-5-1903. Definitions.
As used in this subchapter:
(1)(A) “Education loan” means a loan made to a student or the parent, legal guardian, or sponsor of the student or to an eligible institution for the purpose of financing a student's attendance at the eligible institution.
(B) The loan may provide that the student or parent, legal guardian, sponsor of the student, or eligible institution may be held jointly and severally liable for the education loan;
(2) “Eligible institution” means any public or private postsecondary educational institution whose students are eligible for guaranteed educational loans, an institution of higher learning, or a vocational school as defined by rule of the Arkansas Development Finance Authority as implemented by the Student Loan Authority Division of the Arkansas Development Finance Authority;
(3) “Guaranteed educational loan” means a loan made in accordance with Title IV, Part B, of the Higher Education Act of 1965, 20 U.S.C. § 1071 et seq., or pursuant to an alternative educational loan program undertaken by the division and consistent with this subchapter, to a qualified borrower for payment of educational expenses incurred by a student while attending an eligible institution, the payment of principal of and interest on which is insured by the United States Secretary of Education under the Higher Education Act of 1965, by the Student Loan Guarantee Foundation of Arkansas, its successors or assigns, or by other guarantors as the division may approve;
(4) “Obligation”, “bond”, or “bonds” means any bond, note, certificate, or other evidence of indebtedness, whether or not the interest on the obligation shall be subject to federal income taxation;
(5) “Qualified borrower” means a student or the parent, legal guardian, or sponsor of a student who:
(A) Qualifies for a guaranteed educational loan; and
(B) Is a resident of the State of Arkansas or has been accepted for enrollment at or is attending an eligible institution within the State of Arkansas or is borrowing from a lender doing business within the State of Arkansas, including the division; and
(6)(A) “Student” means an individual who meets the enrollment and satisfactory progress requirements necessary for making a guaranteed educational loan or an education loan as determined by the division.
(B) “Student” includes a dependent and independent undergraduate, graduate, and professional student.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose; discrimination prohibited**
(1) **Purpose** — The purpose of this part is to enable the Secretary—
(A) to encourage States and nonprofit private institutions and organizations to establish adequate loan insurance programs for students in eligible institutions (as defined in [section 1085 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1085&num=0&edition=prelim)),
(B) to provide a Federal program of student loan insurance for students or lenders who do not have reasonable access to a State or private nonprofit program of student loan insurance covered by an agreement under [section 1078(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078/b&num=0&edition=prelim),
(C) to pay a portion of the interest on loans to qualified students which are insured under this part, and
(D) to guarantee a portion of each loan insured under a program of a State or of a nonprofit private institution or organization which meets the requirements of [section 1078(a)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title20-section1078/a/1/B&num=0&edition=prelim).
(2) **Discrimination by creditors prohibited** — No agency, organization, institution, bank, credit union, corporation, or other lender who regularly extends, renews, or continues credit or provides insurance under this part shall exclude from receipt or deny the benefits of, or discriminate against any borrower or applicant in obtaining, such credit or insurance on the basis of race, national origin, religion, sex, marital status, age, or handicapped status.
**(b) Authorization of appropriations** For the purpose of carrying out this part—
(1) there are authorized to be appropriated to
Source: Supplied U.S. Code snapshot — release unconfirmed · 20 U.S.C. § 1071
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Federal law — U.S. Code and appendices · legal_authorities
Page 392
TITLE 20—EDUCATION
§ 1070g–3
2010 (20 U.S.C. 9903), and section 9 of the National
Science Foundation Authorization Act of 2002 (42
U.S.C. 1862n), to ‘highly qualified’, as defined in sec-
tion 9101 of the Elementary and Secondary Education
Act of 1965 [now section 8101, 20 U.S.C. 7801], with re-
spect to a teacher, means that the teacher meets ap-
plicable State certification and licensure require-
ments, including any requirements for certification
obtained through alternative routes to certification.’’
§ 1070g–3. Program period and funding
Beginning on July 1, 2008, there shall be avail-
able to the Secretary to carry out this subpart,
from funds not otherwise appropriated, such
sums as may be necessary to provide TEACH
Grants in accordance with this subpart to each
eligible applicant.
(Pub. L. 89–329, title IV, § 420O, as added Pub. L.
110–84, title I, § 104, Sept. 27, 2007, 121 Stat. 790.)
§ 1070g–4. Program report
Not later than two years after August 14, 2008,
and every two years thereafter, the Secretary
shall prepare and submit to the authorizing
committees a report on TEACH grants with re-
spect to the schools and students served by re-
cipients of such grants. Such report shall take
into consideration information related to—
(1) the number of TEACH grant recipients;
(2) the degrees obtained by such recipients;
(3) the location, including the school, local
educational agency, and State, where the re-
cipients completed the service agreed to under
section 1070g–2(b) of this title and the subject
taught;
(4) the duration of such service; and
(5) any other data necessary to conduct such
evaluation.
(Pub. L. 89–329, title IV, § 420P, as added Pub. L.
110–315, title IV, § 412(a)(2), Aug. 14, 2008, 122 Stat.
3227.)
SUBPART 10—SCHO
Source: Supplied 2024 U.S. Code historical extraction · 20 U.S.C. § 1071
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