Sec. 487.107. AWARDING OF LOANS. (a) The selection committee shall recommend to the department guidelines for the awarding of forgivable loans to outstanding rural scholars.
(b) The department, acting on the advice of the selection committee, shall award forgivable loans to outstanding rural scholars based on the availability of money in the fund.
(c) If in any year the fund is inadequate to provide loans to all eligible applicants, the department shall award forgivable loans on a priority basis according to the applicants' academic performance, test scores, and other criteria of eligibility.
Added by Acts 2001, 77th Leg., ch. 1424, Sec. 1, eff. Sept. 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1241 (H.B. 2542), Sec. 19, eff. June 15, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 148 (H.B. 1493), Sec. 10, eff. September 1, 2013.
Structure Texas Statutes
Subtitle F - Commerce and Industrial Development
Chapter 487 - Office of Rural Affairs in Department of Agriculture
Subchapter D. Outstanding Rural Scholar Recognition and Loan Program for Rural Health Care
Section 487.102. Administration
Section 487.103. Selection Committee
Section 487.104. Selection of Outstanding Rural Scholars
Section 487.105. Eligibility for Outstanding Rural Scholar Competition
Section 487.106. Eligibility for Loans; Rural Community Financial Support
Section 487.107. Awarding of Loans
Section 487.108. Amount of Loan
Section 487.109. Loan Forgiveness
Section 487.111. Postsecondary Educational Institutions; Monitoring