Sec. 61.9838. AMOUNT OF LOAN REPAYMENT ASSISTANCE. (a) The total amount of loan repayment assistance paid by the board under this subchapter may not exceed the total amount of money available in the fund under Section 61.9837.
(b) Not more than 4,000 eligible persons may be provided loan repayment assistance under this subchapter in any school year.
(b-1) This subsection expires January 1, 2020. Notwithstanding Subsection (b), not more than the following number of eligible persons may be provided loan repayment assistance under this subchapter in the specified school year:
(1) in the 2016-2017 school year, not more than 1,000 eligible persons may be provided loan repayment assistance;
(2) in the 2017-2018 school year, not more than 2,000 eligible persons may be provided loan repayment assistance; and
(3) in the 2018-2019 school year, not more than 3,000 eligible persons may be provided loan repayment assistance.
(c) If in any year the amount of money available for loan repayment assistance under this subchapter is insufficient to provide loan repayment assistance to each eligible applicant or if there are more eligible applicants than the number authorized by this section, the board shall establish criteria to determine which eligible applicants will be provided repayment assistance as the board determines appropriate to further the purposes of this subchapter.
(d) Only available money in the mathematics and science teacher investment fund may be used for loan repayment assistance under this subchapter.
Added by Acts 2013, 83rd Leg., R.S., Ch. 1229 (S.B. 1720), Sec. 1, eff. June 14, 2013.
Redesignated from Education Code, Subchapter II, Chapter 61 by Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 21.001(16), eff. September 1, 2015.
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