Tex. Educ. Code § 56.166 · Subchapter J. MINORITY DOCTORAL INCENTIVE PROGRAM
TERMS OF LOAN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A loan must be evidenced by a promissory note that provides for the repayment of the loan with interest and for the charging of necessary collection costs.
(b) Except as provided by Sections 56.168 and 56.169 of this code, a loan must be repayable, at the option of the board, in equal monthly installments over a period beginning with the first day of the seventh month after the date on which the recipient ceases to be enrolled in a graduate program at an institution.
(c) A loan must bear simple interest at a rate determined by the board.
(d) A loan provided under this subchapter may not exceed $14,000 each year for a maximum of four years.
(e) The board shall determine the other terms of a loan.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 75, Sec. 1, eff. May 4, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.56.htm
- Text hash
- sha256 87f9aeae98585926c64c4c082e665ba62a819e5ddceed5c2a2dbc350524e3f50
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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