72-7403. Agreements authorized; special deposits of student loan reserve fund. - Kansas Statutes

72-7403

Chapter 72.--SCHOOLS Article 74.--HIGHER EDUCATION STUDENT LOAN GUARANTEES

      72-7403.   Agreements authorized; special deposits of student loanreserve fund.The state board of regents is hereby authorized to negotiate and enterinto such agreements as in its sound discretion are deemed necessary forthe administration and conduct of the student loan guarantee program and inso doing may contract with a private, nonprofit organization which isorganized for the purpose of administering guaranteed student loan programsin two or more states and which organization is approved by theUnited States commissioner of education.

      The state board of regents is further authorized, in its discretion, todeposit all or any portion of the student loan reserve fund with any suchprivate, nonprofit organization on behalf of and to strengthen individualand separate institutional student loan guarantee programs, which have beenestablished with institutional funds and which benefit students attendingthe following Kansas colleges and universities: Washburn university ofTopeka, Central college in McPherson,Donnelly college in Kansas City, Hesston college in Hesston, Mid-AmericaNazarene college in Olathe, St. John's college in Winfield, colleges anduniversities under the supervision of the state board of regents, communitycolleges, or any school district offering an approved course orprogram of vocational education if approved by the United Statescommissioner of education for participation in the benefits of federalstudent loan legislation and private, nonprofit four-year colleges,whose offerings are programmed primarily in the liberal arts leading to abachelor's degree, and which are approved by the state board of educationas teacher training institutions.

      History:   L. 1967, ch. 389, § 3;L. 1969, ch. 331, § 5;L. 1975, ch. 374, § 15;L. 1988, ch. 297, § 11; July 1.