Kan. Admin. Regs. § 28-15-52 - Interest rate
(a) Each loan
shall accrue interest for the entire life of the loan at a fixed rate set by
the secretary. This fixed rate shall be calculated as specified in subsection
(b). Fees for servicing the loans may also be set by the secretary.
(b) The interest rate shall be calculated as
a percentage, as specified in the intended use plan, of three months' average
of the bond buyer's weekly 20-bond GO (general obligation) index. The loan
interest rate as calculated shall include any loan servicing fee.
(c) The interest rate and loan servicing fee
may vary depending on the loan repayment period.
Notes
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