Section 22.342 - [Effective 11/14/2024] Appropriation of Funds from Former B-On-Time Student Loan Account(a) Definitions. The following words and terms, when used in this section, shall have the following meanings: (1) At-Risk Student--An undergraduate student who has previously received a grant under the federal Pell Grant program, met the Expected Family Contribution (EFC) criterion for a grant under that program, or whose total score on the SAT or the ACT, excluding the optional essay test, is less than the national mean of students' scores on the applicable test.(2) Eligible Institution--A general academic teaching institution described by Texas Education Code, § 56.451(2)(A), or a medical and dental unit described by Texas Education Code § 56.451(2)(B), as those paragraphs existed immediately before September 1, 2015.(3) Total Disbursements--The total amount of tuition set-aside funds disbursed by an eligible institution to students for the B-On-Time Loan Program during Fiscal Years 2007 through 2015.(4) Total Set-Asides--The total amount of tuition funds set aside by an eligible institution for the B-On-Time Loan Program during Fiscal Years 2007 through 2015.(5) Unused Set-Asides--The amount of funds remaining after subtracting an eligible institution's total disbursements from its total set-asides. If an eligible institution's total disbursements are greater than its total set-asides, the institution's unused set-asides are considered to be zero.(b) Allocation. After the abolition of the Texas B-On-Time Student Loan Account, the Coordinating Board may allocate any remaining money in the account to eligible institutions. Each eligible institution's proportion of the allocation shall be its unused set-asides divided by the sum of all eligible institutions' unused set-asides.(c) Verification of Data. Allocation calculations will be shared with all eligible institutions for comment and verification prior to final posting, and the institutions will be given ten (10) working days, beginning the day of the notice's distribution and excluding State holidays, to confirm that the allocation report accurately reflects the B-On-Time disbursements for Fiscal Years 2007 through 2015 or to notify the Coordinating Board in writing of any inaccuracies.(d) An eligible institution that receives an appropriation of money under this section may use the money only to support efforts to increase the number of at-risk students who graduate from the institution or the rate at which at-risk students graduate from the institution.(e) Reporting. An eligible institution that receives an appropriation of money under this section shall provide the Coordinating Board with a report documenting the amount of its expenditures from funding received under this section and its adherence to subsection (d) of this section in a manner provided by the Commissioner.19 Tex. Admin. Code § 22.342
Adopted by Texas Register, Volume 49, Number 45, November 8, 2024, TexReg 8901, eff. 11/14/2024