17-2-103. Definitions.

Arkansas Code — all titles (historical 2020) · legal_authorities

17-2-103. Definitions.

17-2-103. Definitions. As used in this chapter: (1) “Default” means the failure to: (A) Repay a student loan according to the terms agreed upon in a promissory note; or (B) Satisfy the requirements and conditions of a work-conditional scholarship for repayment; (2) “Delinquent” means the failure to: (A) Make a student loan payment when the payment is due; or (B) Satisfy the requirements and conditions of a work-conditional scholarship for repayment; (3) “License” means a license, certificate, registration, permit, or other form of authorization required by law or rule that is required for an individual to engage in a particular occupation or profession; (4) “Scholarship” means an award of financial aid to a student for education at a public or private institution of higher education; (5) “State authority” means an office, board, commission, department, council, bureau, or other agency of state government having authority to license, certify, register, permit, or otherwise authorize an individual to engage in a particular occupation or profession; and (6) “Student loan” means a loan guaranteed by the United States Government or state government for purposes of education at a public or private institution of higher education.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-2-103

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.