Rule 268-11-2-.04 - School Eligibility(1) A school is eligible to participate in Assured Access if it meets the following criteria: (a) The school is a Georgia located institution;(b) The school has established and maintained eligibility with the U.S. Department of Education to participate in the guaranteed student loan programs for at least three (3) years prior to the completion of the last federal fiscal year; and(c) The school has established and maintained eligibility to participate in the guaranteed student loan programs with GHEAC for at least three (3) years prior to the completion of the last state fiscal year.(d) The school meets one of the following criteria:1. both the school's most recently published U.S. Department of Education cohort default rate and its most recently published GHEAC cohort default rate are less than 20 percent; or2. the school's most recently published U.S. Department of Education cohort default rate is 20 percent or greater and the most recently published GHEAC cohort default rate for that school is less than 20 percent and GSFA finds, after review of evidence and arguments submitted by the school that the GHEAC rate is of sufficient history to be a valid measure and is otherwise a better indicator of probable future default experience; or3. the school is a part B institution within the meaning of section 322(2) of the Act.(e) School eligibility decisions will be made at least twice annually when new cohort default rates are made available by GHEAC and when new cohort default rates are made available by the U.S. Department of Education.(f) The school will be governed by the Act and its regulations, as amended, the GSFA LLR policy, and GHEAC policies and procedures of the guaranteed student loan program.(g) To establish eligibility in the Assured Access Lending Program, a school must provide GSFA with a letter requesting approval to participate. GSFA will respond by providing the school with written approval, denial, or a request for further information. GSFA will waive the request letter if the school meets the conditions of 268-11-2-.03(1)(d)(i) and (iii).Ga. Comp. R. & Regs. R. 268-11-2-.04
Ga. L. 1987 p. 589 (Ga. code Ann. 20-3-316).
ER 268-11-2-0.5-.04 was F. Aug. 31, 1992, eff. Aug. 27, 1992, the date of adoption, to remain in effect for a period of 120 days or until the effective date of a permanent Rule covering the same subject matter superseding said ER, as specified by the Agency.Amended: Permanent Rule entitled "School Eligibility" adopted. F. Nov. 20, 1992; eff. Dec. 10, 1992.