Sec. 11. Funds received under the loan program shall be deposited with the treasurer of state in a separate account known as the "student loan program fund". The money remaining in the student loan program fund at the end of a state fiscal year does not revert to the state general fund but remains available to be used for providing student loans under this chapter. After consultation with the program director of the loan program, the treasurer of state shall invest the funds. The income earned on the invested amount is part of the fund.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.1-4.]
As added by P.L.2-2007, SEC.257. Amended by P.L.234-2007, SEC.50.
Structure Indiana Code
Article 16. Earn Indiana Program; Student Loans; Legal Capacity to Contract for Student Loans
Chapter 4. Guaranteed Student Loan Program
21-16-4-1. Eligible Institutions; Approval by the Commission
21-16-4-2. Criteria for Approved Lenders
21-16-4-3. Lender Conditions; Guarantee Percentage; Interest Rate
21-16-4-5. Contracts and Guaranty Agreements
21-16-4-7. Eligible Institution's Qualified Status; Removal; Review
21-16-4-8. Collection of Insurance Premium
21-16-4-9. Administration of Loan Program
21-16-4-10. Eligibility Criteria Violation Procedures
21-16-4-11. Student Loan Program Fund; Administration
21-16-4-14. Default; Procedures
21-16-4-15. Payment on Loss; Subrogation Rights
21-16-4-16. Holder of Guarantee Loans; Duties
21-16-4-17. Dissolution of Loan Program
21-16-4-18. Legal Representation; Attorney General; Private Attorney