No guarantee of full coverage of educational expenses

Nothing in this article or in any savings trust agreement entered into pursuant to this article shall be construed as a promise or guarantee by the state or any agency or instrumentality of the state that either qualified higher education expenses in general or any specific qualified higher education expense shall be covered in full by contributions or earnings on any savings trust account. Savings trust accounts and agreements entered into pursuant to this article are not guaranteed by the full faith and credit of the State of Georgia. (Code 1981, § 20-3-640, enacted by Ga. L. 2001, p. 76, § 1.) 20-3-641. Effect of account in determining eligibility for state aid. Notwithstanding any state law to the contrary, no moneys on deposit in any savings trust account shall be considered an asset of the parent, guardian, or student for purposes of determining an individual’s eligibility for a need based grant, need based scholarship, or need based work opportunity offered or administered by any state agency except as may be required by the funding source of such financial aid. (Code 1981, § 20-3-641, enacted by Ga. L. 2001, p. 76, § 1.) 20-3-642. Records not open to public inspection; duration.