Sec. 61.9606. REPAYMENT. (a) Except as provided by Section 61.9609(a), the board shall provide repayment assistance under this subchapter in the following amounts:
(1) 60 percent of each payment due on an attorney's eligible loans during the first 12-month period after the attorney enters into the agreement under Section 61.9605;
(2) 80 percent of each payment due on an attorney's eligible loans during the second 12-month period after the attorney enters into the agreement; and
(3) 100 percent of each payment due on an attorney's eligible loans during the third 12-month period after the attorney enters into the agreement.
(b) The board shall deliver any repayment assistance made under this subchapter in a lump sum payable to the lender and the attorney and in accordance with any applicable federal law.
(c) Loan repayment assistance received under this subchapter may be applied to the principal amount of the loan and to interest that accrues.
Added by Acts 2001, 77th Leg., ch. 1320, Sec. 2, eff. Sept. 1, 2001.
Section: Previous 61.957 61.958 61.9601 61.9602 61.9603 61.9604 61.9605 61.9606 61.9607 61.9608 61.9609 61.9621 61.9622 61.9623 61.96231 NextLast modified: September 28, 2016