Texas Education Code - Section 56.095. Funding; Limitation On Funding
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§ 56.095. FUNDING; LIMITATION ON FUNDING. (a) The
doctoral incentive loan repayment program may be funded only from a
source provided by this section. The total amount of loan repayment
assistance paid under the program may not exceed the amount of money
available for the program under this section.
(b) Each institution of higher education shall set aside a
portion of the tuition collected from each student enrolled in a
doctoral degree program, other than a law or health professional
degree program, equal to $2 for each semester credit hour for which
the student is enrolled. The amount set aside shall be transferred
to the comptroller to be maintained in the state treasury for the
sole purpose of repayment of student loans of individuals employed
as faculty and administrators at institutions of higher education
in this state as provided by this subchapter. The money may be used
only to provide loan repayment under this subchapter and to cover
the costs of administering this subchapter.
(c) The coordinating board may solicit and accept gifts and
grants from any public or private source for the purposes of the
doctoral incentive loan repayment program.
Added by Acts 2003, 78th Leg., ch. 820, § 47, eff. Sept. 1, 2003.
Section: 56.077 56.078 56.079 56.091 56.092 56.093 56.094 56.095 56.121 56.122 56.123 56.124 56.125 56.126 56.127
Last modified: August 10, 2007
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