Texas Education Code

§ 53B.02 — DEFINITIONS

ED § 53B.02Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 53B. HIGHER EDUCATION LOAN AUTHORITIES · Art. A. GENERAL PROVISIONS

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In this chapter:

(1)"Accredited institution" means an institution that has either been recognized by a recognized accrediting agency, as defined by Section 61.003, or accredited by the Accrediting Commission for Independent Colleges and Schools, the Accrediting Commission for Career Schools and Colleges of Technology, or the National Accrediting Commission of Cosmetology Arts and Sciences.

(2)"Alternative education loan" means a loan other than a guaranteed student loan that is made to a student, a former student, or any other person for the benefit of the student or former student for the purpose of financing or refinancing all or part of the student's or former student's cost of attendance at an accredited institution. The term includes:

(A)indebtedness that meets the definition of a qualified education loan under Section 221(d)(1), Internal Revenue Code of 1986; and

(B)indebtedness used to refinance indebtedness that meets the definition of a qualified education loan under Section 221(d)(1), Internal Revenue Code of 1986.

(3)"Authority" means a higher education loan authority created under this chapter.

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Legislative history

Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 19, eff. September 1, 2019.