Ga. Comp. R. & Regs. R. 268-11-1-.01 - Legislative Authority

(1) The Federal laws and regulations governing the student loan programs require the Georgia Higher Education Assistance Corporation (GHEAC) to ensure that it, or an eligible lender under section 435(g)(1)(D) of the Act, serves as a lender of last resort (LLR) in its State. [Reference: Act 428(j) and 34 CFR 682.401(c)(1)]

(2) GHEAC has designated the Georgia Student Finance Authority (GSFA) as the LLR in the GHEAC service area. [Reference: 34 CFR 682.401(c)(3) and Bulletin 88-G-153 (LD)]

Notes

Ga. Comp. R. & Regs. R. 268-11-1-.01

Ga. L. 1987 p. 589 (Ga. Code Ann. 20-3-316).

ER 268-11-1-0.4-.01 was F. Aug. 31, 1992, eff. Aug. 27, 1992, the date of adoption, to remain in effect for a period of 120 days or until the effective date of a permanent Rule covering the same subject matter superseding said ER, as specified by the Agency. Amended: Permanent Rule entitled "Legislative Authority" adopted. F. Nov. 20, 1992; eff. Dec. 10, 1992.