Texas Education Code 56.355 – Payment of Assistance
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(a) The coordinating board may determine the manner in which Teach for Texas loan repayment assistance is to be paid. The coordinating board may provide for the payment of a portion of the repayment assistance in one or more installments before the person completes a full year of service as a teacher and for the payment of the remainder of the repayment assistance for that year after the completion of the full year of service.
(b) Loan repayment assistance received under this subchapter may be applied to the principal amount of the loan and to interest that accrues.
Terms Used In Texas Education Code 56.355
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Year: means 12 consecutive months. See Texas Government Code 311.005