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 22.186 - Repayment of Loans
Universal Citation: 19 TX Admin Code ยง 22.186
Current through Reg. 49, No. 38; September 20, 2024
(a) Period of loan repayment. The repayment period shall be 10 years.
(b) The repayment period shall begin no earlier than six months after:
(1) the date on
which the student ceases to be enrolled at least half-time at an eligible
institution, for borrowers enrolled in credential programs measured in semester
credit hours; or
(2) the
anticipated graduation date certified by the institution of higher education
for borrowers enrolled in programs that are not measured in semester credit
hours.
(c) Monthly repayment amount. The method for calculating the monthly repayment amount for loans through this Program shall be determined annually by the Commissioner, and shall be calculated annually based on:
(1)
the borrower's income, as demonstrated through federal income tax returns or
other documentation determined to be acceptable by Board staff;
(2) the borrower's monthly accrued interest
on loans through the Program; and
(3) the borrower's cumulative outstanding
student loan balance.
(d) Income threshold. Borrowers may be automatically placed in forbearance when the demonstrated income is below a threshold established by Board staff in consultation with the Texas Workforce Commission.
Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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