§ 6-81-127 - Students of proprietary institutions -- Reports. - Arkansas Statutes

6-81-127. Students of proprietary institutions -- Reports.

(a) No more than twenty-five percent (25%) of the funds available to the Arkansas Student Loan Authority for the purchase of guaranteed student loan notes and for making original student loans shall be used to purchase guaranteed student loan notes or to make original student loans to students attending proprietary institutions, as defined by 20 U.S.C. 1088(b).

(b) The authority shall annually file a report with the House Interim Committee on Education and the Senate Interim Committee on Education showing the aggregate amount of student loans originated or acquired by the authority during the preceding year to students attending four-year, two-year, and vocational schools.