§ 16-62-8 Loans to minors. Any person qualifying for an eligible loan shall not be disqualified to receivethe loan made for or guaranteed by the authority by reason of his being aminor. For the purpose of applying for, securing, receiving, and repaying thisloan, any person shall be deemed to have full legal capacity to act and shallhave all the rights, powers, privileges, and obligations of a person of fullage and respect to it.