Student Loan Operating Trust Fund.

Verbatim from the official edition

Text — 2026 Florida Statutes

(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.

Notes and commentary — not statutory text

History

s. 468, ch. 2002-387; s. 2, ch. 2003-200.

Source of truth

Edition: 2026 Florida Statutes
Official file: https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=1000-1099/1009/1009.html
Text hash: sha256 91f8130815084ef0a91e1e610d5ce4f1873f582c2e83bb7c041f0cc05056e50c
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The Florida Statutes

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