Title 10a — Title 10a: State System of Higher Education

Sec. 10a-197. (Formerly Sec. 10-356). Liberal construction. This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof. (February, 1965, P.A. 170, S. 22.) History: Sec. 10-356 transferred to Sec. 10a-…

Sec. 10a-198. (Formerly Sec. 10-357). Chapter controlling over inconsistent law. To the extent that the provisions of this chapter are inconsistent with the provisions of any general statute or special act or parts thereof, the provisions of this chapter shall be deemed controlli…

Secs. 10a-199 and 10a-200. Reserved for future use.

Sec. 10a-201. (Formerly Sec. 10-358). Purpose of corporation. There is hereby created a nonprofit corporation which shall be known as the Connecticut Student Loan Foundation, and shall be a subsidiary of the Connecticut Health and Educational Facilities Authority. The purpose of …

Sec. 10a-202. (Formerly Sec. 10-359). Definitions. As used in this chapter, the following terms shall have the following meanings: (1) “Corporation” means the Connecticut Student Loan Foundation that is a subsidiary of the Connecticut Health and Educational Facilities Authority a…

Sec. 10a-203. (Formerly Sec. 10-360). Board of directors. Section 10a-203 is repealed, effective July 1, 2014. (February, 1965, P.A. 491, S. 3; 1967, P.A. 3, S. 3, 4; 1969, P.A. 660, S. 3; P.A. 73-180, S. 1, 2, 4; P.A. 74-157, S. 1–3; P.A. 77-573, S. 24, 30; P.A. 83-587, S. 24, 9…

Sec. 10a-203a. Corporation as subsidiary of Connecticut Health and Educational Facilities Authority. Board of directors. (a) The Connecticut Student Loan Foundation is constituted as a subsidiary of the Connecticut Health and Educational Facilities Authority. The Connecticut Stud…

Sec. 10a-204. (Formerly Sec. 10-361). Powers of board. The board of directors shall have the following powers: (1) To lend money or guarantee the loan of money, and to acquire and sell loans, upon such terms and conditions as the board may prescribe, within the limitations contai…

Sec. 10a-204a. Establishment of loan or award program to utilize excess foundation funds. Section 10a-204a is repealed, effective July 1, 2005. (P.A. 84-381, S. 3, 12; P.A. 05-184, S. 9.)

Sec. 10a-204b. Issuance of bonds. (a) The Connecticut Student Loan Foundation, a nonprofit corporation is authorized from time to time to issue, or to cause a subsidiary created pursuant to subdivision (5) of section 10a-204 to issue, bonds, notes or other obligations in such pri…

Sec. 10a-205. (Formerly Sec. 10-362). Maximum interest on loans. Maintenance of funds. (a) Any loan made or guaranteed by the corporation shall bear simple interest at a rate not in excess of the rate provided in Title IV, Part B of the Higher Education Act of 1965, where applica…

Sec. 10a-206. (Formerly Sec. 10-363). Repayment of loans. (a) The terms and conditions of any loan made or guaranteed by the corporation in accordance with the provisions of Title IV, Part B of the Higher Education Act of 1965 shall be governed by the provisions of Title IV, Part…

Sec. 10a-206a. Borrower in default on loan to have amount in default applied as reduction of any amount payable by the state to such borrower. Certain exceptions. Upon notification to the Comptroller by the Connecticut Student Loan Foundation that any borrower under this chapter …

Sec. 10a-207. (Formerly Sec. 10-364). Disability of minority not to disqualify for loan. Any person otherwise qualifying for a loan made or guaranteed by the corporation shall not be disqualified by reason of his being under the age of eighteen years and for the purpose of applyi…

Sec. 10a-208. (Formerly Sec. 10-365). Contributions to corporation. Notwithstanding the provisions of any general statute or special act or the provisions of any certificate of incorporation, charter or other articles of organization, all domestic corporations or associations org…

Sec. 10a-209. (Formerly Sec. 10-366). Tax exemption. The property, income, obligations and activities of the Connecticut Student Loan Foundation shall be exempt from all taxes and assessments by the state or any political subdivision thereof. (February, 1965, P.A. 491, S. 9; 1967…

Sec. 10a-210. (Formerly Sec. 10-367). Annual report; content. Review of operating budget. (a) The corporation shall make an annual report, on or before December thirty-first for the fiscal year ending September thirtieth, of its condition to the Governor, as provided in section 4…

Sec. 10a-211. (Formerly Sec. 10-368). Termination of corporation. The corporation and its corporate existence shall continue until terminated by law upon a finding that there no longer exists any need for such a corporation; provided no such law shall take effect as long as the c…

Sec. 10a-212. (Formerly Sec. 10-368a). False statement or misrepresentation. Financial information. (a) Any person who, by means of an intentionally false statement or misrepresentation, obtains, or attempts to obtain, or aids or abets any person to obtain, any loan or guaranty t…

Secs. 10a-213 to 10a-215. (Formerly Secs. 10-368b to 10-368d). Unrestricted and restricted funds. Bond issue. General obligation bonds. Sections 10a-213 to 10a-215, inclusive, are repealed, effective July 1, 2005. (1967, P.A. 3, S. 15–17; P.A. 75-423, S. 1, 2; P.A. 77-614, S. 19,…

Sec. 10a-216. (Formerly Sec. 10-368e). Student Loan Foundation to succeed to rights and duties. The Connecticut Student Loan Foundation shall succeed to all the powers, rights, duties and obligations pertaining, on March 31, 1967, to the Connecticut Foundation for Financial Assis…

Secs. 10a-217 to 10a-220. Reserved for future use.

Sec. 10a-221. Declaration of policy. It is declared that, for the benefit of the people of the state, the increase of their commerce, welfare and prosperity and the improvement of their health and living conditions, it is essential that this and future generations of youths be gi…

Sec. 10a-222. Short title. This chapter may be referred to and cited as the “Connecticut Higher Education Supplemental Loan Authority Act”. (P.A. 82-313, S. 2, 28.)

Sec. 10a-223. Definitions. In this chapter, the following words and terms shall have the following meanings unless the context indicates another or different meaning or intent: (1) “Authority” means the Connecticut Higher Education Supplemental Loan Authority constituted as a sub…

Sec. 10a-224. Executive director and board of directors of authority. Continuation of authority. Liability and indemnification. (a) The executive director of the Connecticut Higher Education Supplemental Loan Authority shall supervise the administrative affairs and technical acti…

Sec. 10a-225. Powers of authority. Use of authority loans and grants. Reduction of principal and interest owed by participating institutions. Master promissory notes. (a) The purpose of the authority shall be to assist borrowers and Connecticut institutions for higher education i…

Sec. 10a-226. Payment of expenses. All expenses incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter and no liability or obligations shall be incurred by the authority hereunder beyond the extent t…

Sec. 10a-227. Acquisition of property by authority. The authority is authorized and empowered to establish specific guidelines relating to the deposits of certain moneys, endowments or properties by Connecticut institutions for higher education which would provide security for ed…

Sec. 10a-228. Conveyance of title to participating institutions. When the principal of, interest on and premium, if any, due in connection with bonds of the authority issued to finance the cost of an education loan financing program or programs, including any refunding bonds issu…

Sec. 10a-229. Notes of authority. The authority may from time to time issue negotiable notes for any corporate purpose and may from time to time renew any notes by the issuance of new notes, whether the notes to be renewed have or have not matured. The authority may issue notes p…

Sec. 10a-230. Bonds. (a) The authority may from time to time issue revenue bonds for any corporate purpose and all such revenue bonds, notes, bond anticipation notes or other obligations of the authority issued pursuant to this chapter shall be and are hereby declared to be negot…

Sec. 10a-231. Trust agreement to secure bonds or notes. In the discretion of the authority any revenue bonds or notes issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any…

Sec. 10a-232. Payment of bonds or notes. Creation of special capital reserve funds. (a) Revenue bonds or notes issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a pledge of the…

Sec. 10a-233. Fees. The authority shall fix, revise, charge and collect fees and is empowered to contract with any person, partnership, association or corporation, or other body, public or private, in respect thereof. Each agreement entered into by the authority with a participat…

Sec. 10a-234. Use of bond proceeds and revenues. All moneys received under the provisions of this chapter, whether as proceeds from the sale of bonds or notes or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. Any officer …

Sec. 10a-235. Enforcement of rights and duties. Any holder of revenue bonds, notes, bond anticipation notes, other notes or other obligations of the authority issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee or trustees under…

Sec. 10a-236. Tax exemption. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of the state, for the increase of their commerce, welfare and prosperity, and for the improvement of their health and living conditions, and as o…

Sec. 10a-237. Refunding bonds. (a) The authority is hereby authorized to provide for the issuance of revenue bonds or notes of the authority for the purposes of refunding any revenue bonds or notes of the authority then outstanding, including the payment of any redemption premium…

Sec. 10a-238. Investment of funds. Except as otherwise provided in subsection (c) of section 10a-237, the authority may invest any funds in (1) direct obligations of the United States or the state of Connecticut, (2) obligations as to which the timely payment of principal and int…

Sec. 10a-239. Bonds declared legal investments. Bonds issued by the authority under the provisions of this chapter are hereby made securities in which all public offices and public bodies of the state and its political subdivisions, all insurance companies, trust companies, savin…

Sec. 10a-240. Report of authority. The authority shall keep an accurate account of all its activities and of all its receipts and expenditures and shall, annually, in the month of December, make a report thereof to its board of directors, to the Governor, to the state Auditors of…

Sec. 10a-241. Institutions of higher education authorized to take necessary action. Rate of interest. (a) Notwithstanding any other provision of law, any participating institution for higher education shall have the power to borrow money from the authority, make education loans a…

Sec. 10a-242. Employee benefits. The authority may take such action as it deems appropriate to enable its employees to come within the provisions and obtain the benefits of the federal Social Security Act. (P.A. 82-313, S. 22, 28.)

Sec. 10a-243. Chapter supplemental to other laws. Power of authority not subject to supervision or regulation. The provisions of this chapter shall be deemed to provide a complete, additional and alternative method for the actions of the things authorized thereby and shall be reg…

Sec. 10a-244. Chapter independent of Connecticut Student Loan Foundation. This chapter shall be independent of the authority of the Connecticut Student Loan Foundation established by chapter 187a. (P.A. 82-313, S. 24, 28.)

Sec. 10a-245. Advisory committee. The authority shall appoint an advisory committee to consist of not more than fifteen persons who shall meet with the members of the board of directors of the authority and with staff at least once each calendar year in accordance with guidelines…

Sec. 10a-246. Obligations of borrower. The obligations of a borrower with respect to an education loan under the provisions of this chapter shall not be subject to a discharge in bankruptcy except as provided in the Bankruptcy Code. (P.A. 82-313, S. 26, 28.)

Sec. 10a-246a. Under age of eighteen not disqualification for authority loan. Any resident of the state otherwise qualifying for an authority loan, as defined in section 10a-223, shall not be disqualified for the authority loan by reason of being under the age of eighteen years a…

Sec. 10a-247. Alliance District Educator and Counselor Loan Subsidy Program. Eligibility criteria and administrative guidelines. (a) The Connecticut Higher Education Supplemental Loan Authority shall establish, subject to available funding pursuant to section 10a-247a, an Allianc…