173.100. Definitions.

MISSOURI STATUTES AND CODES

Definitions.

173.100. As used in sections 173.095 to 173.187 the following termsmean:

(1) "Board", the Missouri coordinating board for higher education;

(2) "Borrower", any person who has become legally obligated to repay aloan made under the student loan program or that person's guardian, trustee,estate, or other person legally responsible for defending against orsatisfying borrower's obligations under the student loan program;

(3) "Department", the Missouri department of higher education;

(4) "Earnings", compensation paid or payable for personal services,whether denominated wages, salary, commission, bonus, or otherwise;

(5) "Eligible borrower", any person attending or the parent of adependent attending an eligible institution;

(6) "Eligible institution", any institution of postsecondary education,including a university, college, vocational and technical school, and otherpostsecondary institution, which has been approved for purposes ofparticipation in the Missouri student loan program by the department and theUnited States Secretary of Education;

(7) "Eligible lender", any bank, savings and loan association, creditunion, insurance company, pension fund, eligible educational institutionlender, or the department, or the federal Student Loan Marketing Associationor other secondary market operation;

(8) "Employer", any person, partnership, association, corporation,institution, governmental body, unit or agency, school district or municipalcorporation, or any other entity employing one or more persons for a salary,wage, commission or other compensation, or any self-employed borrower;

(9) "Fund", the state guaranty student loan fund;

(10) "LLR fund", the lender of last resort revolving fund established insection 173.187;

(11) "Program", the Missouri guaranteed student loan program.