1. (a) Minimum Loan Amount. No College Access Loan may be authorized for less than $100.
2. (b) Annual Loan Limit. In no case shall the annual loan amount exceed the difference between the cost of attendance and the financial resources available to the applicant, including the applicant's scholarships, gifts, grants, and other financial aid. The student's maximum eligibility for Federal Direct Loans, except for Federal PLUS loans, must be considered by the institution as other financial aid, whether or not the student actually receives such assistance.

3. (c) Aggregate Loan Limit.

   1. (1) For students enrolled in undergraduate degree programs, the maximum aggregate loan amount for any eligible student shall not exceed the student's manageable debt level, as defined in §24.1 of this chapter (relating to Definitions).
   2. (2) For students enrolled in master's degree programs who apply for a loan on or after October 15, 2026, the maximum aggregate loan amount for any eligible student shall not exceed the student's manageable debt level, as defined in §24.1 of this chapter.
   3. (3) For students enrolled in doctoral or professional degree programs and students enrolled in master's degree programs who apply for a loan before October 15, 2026, the maximum aggregate loan amount for an eligible student is the sum of the student's annual limits.
4. (d) Interest Rate. The interest rate charged for new loans shall be set from time to time by the Commissioner, shall be simple interest, and shall begin to accrue on the outstanding principal from the date of disbursement, including during periods of forbearance.

Source Note:The provisions of this §24.45 adopted to be effective November 13, 2025, 50 TexReg 7278; amended to be effective May 13, 2026, 51 TexReg 3114.