Tenn. Comp. R. & Regs. 1640-01-20-.04 - AWARD AMOUNT

(1) Subject to the amounts appropriated by the general assembly and any provision of law relating to a shortfall in funds available for postsecondary financial assistance from the net proceeds of the state lottery, a Math & Science Teacher Loan to a Tennessee public school teacher shall be two thousand dollars ($2,000) per academic year, regardless of the number of terms enrolled within that academic year. The total amount of a Math & Science Teacher Loan to a Tennessee public school teacher shall not exceed ten thousand dollars ($10,000) for all years required for the teacher's program of study.

(2) The Corporation shall disburse Math & Science Teacher Loan funds directly to eligible postsecondary institutions, which shall in turn credit the borrower's account or disburse funds to the eligible borrower with one credit or payment at the beginning of each academic term attended.

Notes

Tenn. Comp. R. & Regs. 1640-01-20-.04

Public necessity rule filed November 20, 2006; effective through May 4, 2007. Original rule filed November 20, 2006; effective March 30, 2007.

Authority: 2006 Tenn. Pub. Acts, ch. 977, and T.C.A. §§ 49-4-201 and 49-4-924.