19 Tex. Admin. Code § 22.49 - Amount of Loan
(a) Amount of Loan.
For loan applications received by the agency prior to September 1, 2023, the
amount of loan shall not exceed the amount that the student needs in order to
meet reasonable expenses as a student.
(b) Annual and Aggregate Loan Limit. For loan
applications received by the agency prior to September 1, 2023, the maximum
annual and aggregate loan amounts for any eligible student shall be determined
from time to time by the Commissioner. In no case shall the maximum annual loan
amount be greater than the annual cost of attendance for the student at the
eligible institution.
(c) Aggregate
Loan Limit. For loan applications received by the agency on or after September
1, 2023:
(1) The maximum aggregate loan
amount for an eligible undergraduate student shall be limited to an amount of
debt defined as "manageable debt" under the Board's Long-Range Master Plan for
Higher Education. The maximum amount of student loan debt is based on a
reasonable monthly student loan payment, taking into consideration the
borrower's area of study, as outlined in Figure 1. The agency may not loan a
borrower an amount of College Access Loans that would cause the borrower's
aggregate educational loan debt, as reported on the borrower's credit report,
to exceed the maximum amount outlined in Figure 1.
(2) The maximum aggregate loan amount for an
eligible graduate or professional student is the sum of the student's annual
limits.
(d) Annual Loan
Limit. For loan applications received by the agency on or after September 1,
2023, in no case shall the maximum 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.
Notes
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