(1) The Student Loan Operating Trust Fund is hereby created, to be administered by the Department of Education. Funds shall be credited to the trust fund pursuant to the Higher Education Act of 1965, as amended, from loan processing and issuance fees, administrative cost allowances, account maintenance fees, default aversion fees, amounts remaining from collection of defaulted loans, amounts borrowed from the Student Loan Guaranty Reserve Fund, and other amounts specified in federal regulation. The purpose of the trust fund is to segregate funds used for administration of the guaranteed student loan program from the reserve funds used to guarantee student loans contained in the Student Loan Guaranty Reserve Fund. The fund is exempt from the service charges imposed by s. 215.20.
(2) Notwithstanding the provisions of s. 216.301 and pursuant to s. 216.351, any balance in the trust fund at the end of any fiscal year shall remain in the trust fund at the end of the year and shall be available for carrying out the purposes of the trust fund.
History.—s. 468, ch. 2002-387; s. 2, ch. 2003-200.
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.