Texas Administrative Code
Title 19 - EDUCATION
Part 1 - TEXAS HIGHER EDUCATION COORDINATING BOARD
Chapter 22 - STUDENT FINANCIAL AID PROGRAMS
Subchapter J - FUTURE OCCUPATIONS & RESKILLING WORKFORCE ADVANCEMENT TO REACH DEMAND (FORWARD) LOAN PROGRAM
Section 22.176 - Definitions
Current through Reg. 49, No. 38; September 20, 2024
In addition to the words and terms defined in Texas Administrative Code, § 22.1 of this title (relating to Definitions) the following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.
(1) Cosigner--one who signs a student loan promissory note and thereby assumes liability for the debt and all fees and expenses associated with the note and who is not a direct beneficiary of the proceeds of the loan.
(2) Default--the failure of a borrower and cosigner, if any, to make loan installment payments when due for a total of 180 days.
(3) Forbearance--permission from Board staff, granted through documented loan program policies and procedures, that allows a borrower to cease payments temporarily, or allows an extension of time for making payments, or temporarily reduces the payment amount from the amount that was previously scheduled.
(4) Fund--the Texas Opportunity Plan Fund as created by the Constitution of the State of Texas, Article III, 50b.
(5) High-demand credential--undergraduate degrees, certificates, or short-term credentials identified by the Board in consultation with the Texas Workforce Commission, Texas Workforce Investment Council, and the Governor's Office of Economic Development and Tourism as filling critical workforce needs in the State while providing a high-value credential to students upon completion.
(6) Program--the Future Occupations & Reskilling Workforce Advancement to Reach Demand (FORWARD) Loan Program.
