Kentucky Administrative Regulations
Title 11 - KENTUCKY HIGHER EDUCATION ASSISTANCE AUTHORITY
Chapter 17 - Kentucky Affordable Prepaid Tuition Plan (KAPT)
Section 11 KAR 17:010 - Definitions for 11 KAR Chapter 17
Universal Citation: 11 KY Admin Regs Service 17:010
Current through Register Vol. 51, No. 6, December 1, 2024
RELATES TO: KRS 164A.700-164A.709
NECESSITY, FUNCTION, AND CONFORMITY: KRS 164A.704(1) requires the board to promulgate administrative regulations to implement KRS 164A.700 to 164A.709. This administrative regulation establishes the definitions for 11 KAR Chapter 17.
Section 1. Definitions.
(1) "Application period" means the period
during which applications for a prepaid tuition contract shall be received by
the office.
(2) "Board" means the
Board of Directors of the Commonwealth Postsecondary Education Prepaid Tuition
Trust Fund.
(3) "Eligible
educational institution" is defined by KRS 164A.700(3).
(4) "Full-time enrollment" means, for
purposes of determining the payout value of a prepaid tuition account, sixteen
(16) semester hours or the equivalent under a trimester or quarter system at an
eligible educational institution.
(5) "Fund" is defined by KRS 164A.700(4).
(6) "KAPT" or
"Kentucky's Affordable Prepaid Tuition Plan" means the name by which the
Commonwealth Postsecondary Education Prepaid Tuition Trust Fund shall be
marketed and promoted, in accordance with KRS 164A.700(4) and
164A.704(9).
(7) "Mandatory fees"
means, for purposes of determining the value of a prepaid tuition account, fees
required as a condition of enrollment incurred by all students at an eligible
educational institution.
(8)
"Office" means the Tuition Account Program Office in the Kentucky Higher
Education Assistance Authority that is responsible for administering the
prepaid tuition accounts.
(9)
"Prepaid tuition" is defined by KRS 164A.700(6).
(10) "Prepaid tuition account" is defined by
KRS 164A.700(9).
(11) "Prepaid
tuition contract" is defined by KRS 164A.700(10).
(12) "Projected enrollment date" means the
estimated date that the qualified beneficiary shall be enrolled and attend an
eligible educational institution.
(13) "Purchaser" is defined by KRS 164A.700(13).
(14) "Qualified
beneficiary" is defined by KRS 164A.700(14).
(15) "Qualified postsecondary education
expenses" is defined by KRS 164A.700(16).
(16) "Tuition" is defined by KRS 164A.700(15).
(17) "Value of a
prepaid tuition account" is defined by KRS 164A.700(18).
STATUTORY AUTHORITY: KRS 164A.704(1)
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