- (a) Repayment Period. The repayment period for a FORWARD loan shall be 10 years.
(b) Monthly Repayment Amount. The method for calculating the monthly repayment amount for loans through this Program shall be determined each biennium by the Commissioner, and shall be calculated annually based on:
- (1) the borrower's income, as demonstrated through federal income tax returns or other documentation determined to be acceptable by the Coordinating Board;
- (2) the borrower's monthly accrued interest on loans through the Program; and
- (3) the borrower's cumulative outstanding student loan balance.
- (c) Income threshold. The Coordinating Board may automatically place a borrower in forbearance when the borrower's demonstrated income is below a threshold established by the Coordinating Board in consultation with the Texas Workforce Commission.
Source Note:The provisions of this §24.59 adopted to be effective November 13, 2025, 50 TexReg 7279.