1. (a) Repayment Period. The repayment period for a College Access Loan shall be:

   1. (1) Ten (10) years, if the amount of principal owed by the borrower on loans authorized under this chapter is less than $30,000; or
   2. (2) Twenty (20) years, if the amount of principal owed by the borrower on loans authorized under this chapter exceeds $30,000.

2. (b) Minimum Monthly Payment. Unless a lower monthly payment is authorized under §24.14 of this chapter (relating to Forbearance), a borrower's minimum monthly payment for a College Access Loan shall be the greater of:

   1. (1) the amount required to amortize the loan over the course of the repayment period; or
   2. (2) fifty dollars ($50.00).

Source Note:The provisions of this §24.46 adopted to be effective November 13, 2025, 50 TexReg 7278.