- (a) A Scholarship is considered a Loan on the date the recipient has failed to meet the conditions of the Scholarship described in §22.170 of this title (relating to Conversion of the Scholarship to a Loan). Each year of the Scholarship that is disbursed to the student is considered a separate Loan.
- (b) Loan Amounts. The principal owed for each Loan is the amount of the Scholarship disbursed. The full amount must be repaid, plus interest accrued.
- (c) Interest Rates. The interest rate for each Loan shall be the same interest rate charged for a College Access Loan at the time the Scholarship funds were disbursed.
- (d) Interest Accrual. Interest shall begin to accrue on the date the Scholarship is converted to a Loan.
Source Note:The provisions of this §24.72 adopted to be effective November 13, 2025, 50 TexReg 7280.