Indiana Statutes
§ 21-16-4-3 — Lender conditions; guarantee percentage; interest rate
Indiana·Title 21 HIGHER EDUCATION·Art. 16 EARN INDIANA PROGRAM; STUDENT LOANS;·Ch. 4 Guaranteed Student Loan Program
The commission may guarantee loans made by
approved lenders upon conditions prescribed by the commission to
residents who attend or plan to attend eligible institutions in Indiana or
elsewhere, to assist the residents in meeting education expenses. The
commission shall guarantee at least one hundred percent (100%) of the
principal and interest on the loans. However, the rate of interest on
guaranteed loans may not exceed the annual rate of simple interest
prescribed for state student loan programs under federal law.
[Pre-2007 Higher Education Recodification Citation:
20-12-21.1-2(3).]
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Legislative History
As added by P.L.2-2007, SEC.257.
Nearby Sections
15
§ 21-12-1-1
Definitions§ 21-12-1-10
"Frank O'Bannon grant"§ 21-12-1-11
"Fund"§ 21-12-1-11.5
"Prior learning assessment"§ 21-12-1-12
Repealed§ 21-12-1-13
"Program"§ 21-12-1-14
"Scholarship"§ 21-12-1-15
"Scholarship applicant"§ 21-12-1-16
"Scholarship recipient"§ 21-12-1-2
"Academic term"§ 21-12-1-3
"Academic year"§ 21-12-1-4
"Active duty"§ 21-12-1-4.5
"Adult student grant"§ 21-12-1-5
"Approved secondary school"§ 21-12-1-6
"Commission"