Texas Education Code - Section 61.705. Repayment
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Texas Laws > Education Code > Texas Education Code - Section 61.705. Repayment
§ 61.705. REPAYMENT. (a) The board shall deliver any
repayment made under this subchapter in a lump sum payable to the
lender and the person, in accordance with federal law.
(b) A repayment made under this subchapter may be applied to
the principal amount of the loan and to interest that accrues.
(c) The minimum amount of repayment assistance that may be
awarded in one year to a person who qualifies for the assistance
under Section 61.702 is the lesser of:
(1) $1,000; or
(2) the amount of principal and accrued interest that
is due on eligible loans in that year.
(d) A person may not receive repayment assistance for
classroom teachers under this subchapter in a total amount that
exceeds $5,000, and may not receive that repayment assistance for
more than five years.
(e) The minimum amount of repayment assistance that may be
awarded in one year to a person who qualifies for the assistance
under Section 61.7021 is 50 percent of the amount of principal and
accrued interest that is due on eligible loans that year.
Added by Acts 1989, 71st Leg., ch. 1084, § 1.30, eff. Sept. 1,
1989. Amended by Acts 1993, 73rd Leg., ch. 627, § 3, eff. Sept.
1, 1993; Acts 1999, 76th Leg., ch. 1590, § 10, eff. June 19,
1999; Acts 2001, 77th Leg., ch. 1261, § 9, eff. June 15, 2001.
Section: 61.659 61.660 61.701 61.702 61.7021 61.703 61.704 61.705 61.706 61.707 61.708 61.751 61.752 61.753 61.754
Last modified: August 11, 2007
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