Rule 268-11-2-.02. Legislative Authority

1. (1) Under the federal Higher Education Act of 1965 (P.L. 89-329), as amended, the Georgia Student Finance Authority (GSFA) is an eligible lender in the guaranteed student loan programs. All loans are guaranteed by the Georgia Higher Education Assistance Corporation (GHEAC), the guaranty agency in the State of Georgia. [Reference: 435(g)(1)(D)]
2. (2) GHEAC has designated GSFA as the lender of last resort (LLR) in the GHEAC service area. [Reference: Act 428(j); 34 CFR 682.401(c)(3); and Bulletin 88-G-153 (LD)]

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

History. ER 268-11-2-0.5-.02 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.