Sec. 52.41. RESTRICTION ON ISSUANCE OF CERTAIN FEDERALLY INSURED STUDENT LOANS. (a) Except as provided by Subsection (c), the board may issue a student loan under the Federal Family Education Loan Program (20 U.S.C. Section 1071 et seq.), as amended, only to a borrower who has been or will be issued a student loan under another student loan program administered by the board.
(b) The board may service any outstanding student loans issued by the board under the Federal Family Education Loan Program.
(c) The board may issue student loans under the Federal Family Education Loan Program to borrowers other than borrowers described by Subsection (a) if the commissioner of higher education determines that market conditions warrant the issuance of those loans.
Added by Acts 2003, 78th Leg., ch. 820, Sec. 46, eff. Sept. 1, 2003.
Last modified: September 28, 2016