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. 3, September 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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