(1) The loans to be made with the proceeds of the program shall be determined and approved by the Department of Education, pursuant to rules promulgated by the State Board of Education. The program shall be administered by the Department of Education as provided by law, and the proceeds thereof shall be maintained and secured in the same manner as other public trust funds.
(2) The Department of Education may contract for the purchase of federally insured student loans to be made by other eligible lenders under the guaranteed student loan program; however, any such loans must comply with all applicable requirements of s. 15, Art. VII of the State Constitution, ss. 1009.78-1009.88, the rules of the State Board of Education relating to the guaranteed student loan program, and the proceedings authorizing the student loan revenue bonds, and the loans so purchased shall have been made during the period specified in the contract.
(3) The Department of Education may sell loan notes acquired pursuant to ss. 1009.78-1009.88 to the federally created Student Loan Marketing Association or another federally authorized holder of such notes. The department may also repurchase loan notes from authorized holders of such notes. The department shall comply with applicable federal law and regulations and the provisions of any agreement with the Student Loan Marketing Association or the other authorized holders.
History.—s. 462, ch. 2002-387.
Structure Florida Statutes
Title XLVIII - Early Learning-20 Education Code
Chapter 1009 - Educational Scholarships, Fees, and Financial Assistance
Part III - Financial Assistance (Ss. 1009.40-1009.96)
Subpart B - Scholarships, Grants, and Other Aid
1009.50 - Florida Public Student Assistance Grant Program; eligibility for grants.
1009.505 - Florida Public Postsecondary Career Education Student Assistance Grant Program.
1009.51 - Florida Private Student Assistance Grant Program; eligibility for grants.
1009.52 - Florida Postsecondary Student Assistance Grant Program; eligibility for grants.
1009.53 - Florida Bright Futures Scholarship Program.
1009.534 - Florida Academic Scholars award.
1009.5341 - Florida Bright Futures Scholarship awards for graduate study.
1009.535 - Florida Medallion Scholars award.
1009.536 - Florida Gold Seal Vocational Scholars and Florida Gold Seal CAPE Scholars awards.
1009.55 - Rosewood Family Scholarship Program.
1009.60 - Minority teacher education scholars program.
1009.605 - Florida Fund for Minority Teachers, Inc.
1009.61 - Teacher/Quest Scholarship Program.
1009.62 - Grants for teachers for special training in exceptional student education.
1009.65 - Medical Education Reimbursement and Loan Repayment Program.
1009.66 - Nursing Student Loan Forgiveness Program.
1009.67 - Nursing scholarship program.
1009.70 - Florida Education Fund.
1009.701 - First Generation Matching Grant Program.
1009.72 - Jose Marti Scholarship Challenge Grant Program.
1009.73 - Mary McLeod Bethune Scholarship Program.
1009.74 - The Theodore R. and Vivian M. Johnson Scholarship Program.
1009.75 - Last Mile College Completion Program.
1009.77 - Florida Work Experience Program.
1009.78 - Student Loan Program.
1009.79 - Issuance of revenue bonds pursuant to s. 15, Art. VII, State Constitution.
1009.80 - Approval of loans; administration of program.
1009.83 - Rate of interest and other charges.
1009.84 - Procurement of insurance as security for loans.
1009.85 - Participation in guaranteed student loan program.
1009.86 - Student Loan Operating Trust Fund.
1009.87 - Provisions of ss. 1009.78-1009.88 cumulative.
1009.88 - Validation of bonds.
1009.89 - The William L. Boyd, IV, Effective Access to Student Education grants.
1009.892 - Cost of attendance; adult norm-referenced testing.
1009.893 - Benacquisto Scholarship Program.
1009.894 - Florida Farmworker Student Scholarship Program.
1009.895 - Open Door Grant Program.
1009.896 - Florida Law Enforcement Academy Scholarship Program.
1009.8962 - Linking Industry to Nursing Education (LINE) Fund.