SECTION 515.10. Licenses for Individuals with Defaulted Student Loans  


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  • (a) The board shall not renew the license of a licensee whose name appears on the list of individuals who are in default of loans guaranteed by the Texas Guaranteed Student Loan Corporation (TGSLC) and in default of repayment agreements unless:

    (1) the renewal is the first renewal following the board's receipt of the list including the licensee's name among those in default; or

    (2) the licensee presents a certificate issued by TGSLC certifying that:

    (A) the licensee has entered into a repayment agreement on the defaulted loan; or

    (B) the licensee is not in default on a loan guaranteed by TGSLC.

    (b) The board may issue an initial license to an applicant whose name appears on the list of individuals who are in default of loans guaranteed by TGSLC if the applicant meets the qualifications for licensure established by the board; provided, however, that the board shall not renew the license unless the licensee presents a certificate issued by TGSLC certifying that:

    (1) the licensee has entered into a repayment agreement on the defaulted loan; or

    (2) the licensee is not in default on a loan guaranteed by TGSLC.

    (c) The board shall provide a licensee with the opportunity to have a public hearing pursuant to the board's rules prior to taking action concerning non-renewal of a license for default of student loans.

    (d) The board's nonrenewal policy shall be printed on each license renewal notice and license application.

Source Note: The provisions of this §515.10 adopted to be effective February 18, 1992, 17 TexReg 941; amended to be effective August 17, 2008, 33 TexReg 6380; amended to be effective August 8, 2012, 37 TexReg 5782