Title 20 — Education

This part shall be known and may be cited as the ‘‘Georgia Student Finance Authority Act.’’ (Code 1933, § 32-3701, enacted by Ga. L. 1980, p. 835, § 3.) 196 20-3-311 20-3-311. Legislative findings; purposes of authority.

(a) Legislative findings. The General Assembly finds that the growth and development of this state and nation have been and will undoubtedly remain strongly related to the degree to which educational opportunities are provided to all of their citizens; recognizes that costs assoc…

As used in this part, the term: (1) ‘‘Authority’’ means the Georgia Student Finance Authority created by Code Section 20-3-313. (2) ‘‘Authorized officer’’ means the chairperson, vice chairperson, executive director or president, treasurer, secretary, or other person authorized by…

The executive director of the commission, or president, if designated by such title by the board of commissioners, shall serve as the executive director or president, if designated by such title by the board of directors, and chief executive officer of the authority. The executiv…

The authority shall maintain a system of accounts in accordance with generally accepted accounting procedures and standard accounting procedures and systems established by the state, where applicable, which shall, among other things, properly identify and account for all funds re…

The authority shall maintain an administration fund for itself and of the corporation as provided for in this Code section to which shall be credited state moneys, federal moneys, other moneys, and earned income of the authority available for and determined by the authority to be…

Legislative findings; purposes of authority. Definitions. Authority created as successor to Georgia Higher Education Assistance Authority. Functions, composition, organization, and conduct of affairs of board of directors. Authority officers and employees; bonds. Powers and dutie…

The authority is authorized: (1) To examine and audit accounts and records of schools relative to financial assistance provided to students enrolled therein under this part; (2) To conduct program reviews with appropriate officers and personnel of schools as may be necessary or a…

Notwithstanding any general or special law or any certificate of incorporation, charter, or other articles of organization, all domestic or 212 20-3-324 domesticated corporations, associations, and other taxable entities carrying on business in this state and any person are autho…

The authority created by subsection (a) of Code Section 20-3-313 is assigned to the commission created by subsection (a) of Code Section 20-3-233 for administrative purposes as prescribed in Code Section 50-4-3. (Ga. L. 1972, p. 1015, § 1903; Code 1933, § 32-3720, enacted by Ga. …

Upon dissolution of the authority, all of its assets, rights, and property shall pass to and be vested in the state to be used for educational purposes, subject to Code Section 20-3-357. (Code 1933, § 32-3721, enacted by Ga. L. 1980, p. 835, § 3.) 20-3-326. Venue of proceedings a…

The venue for any legal proceeding brought against the authority shall be Fulton County, regardless of the county in which the principal office or any other office of the authority may be located. (Ga. L. 1969, p. 683, § 38; Code 1933, § 32-3722, enacted by Ga. L. 1980, p. 835, §…

Nothing contained in this part shall be construed to mean that the authority is engaged in or is authorized to engage in the general banking business. (Ga. L. 1969, p. 683, § 43; Code 1933, § 32-3723, enacted by Ga. L. 1980, p. 835, § 3.) 20-3-328. Operations reports by authority…

The authority is authorized to publish in print or electronically annually, or at more or less frequent intervals determined by the board of directors, an operations report covering the activities of the authority, including, without limitation, a reporting of revenues and expend…

It shall be lawful for the board of regents to invest any trust funds held by the board in real estate or in any improvements or buildings which the board in its discretion may see fit to make or erect thereon; provided, however, that no money belonging to any trust fund shall be…

The fiscal year of the board of regents and all institutions of the university system is from July 1 in each year through June 30 in the following year. (Ga. L. 1933, p. 63, § 1; Code 1933, § 32-131; Ga. L. 1935, p. 169, § 1.) 20-3-35. Annual reports to Governor.

The General Assembly finds that students and parents are not always able to obtain educational loan assistance from a commercial lender under the Georgia Higher Education Loan Program provided for in Part 2 of this article; that a need exists to make additional educational loan f…

As used in this subpart, the term: (1) ‘‘School’’ means a ‘‘school’’ as such term is defined in paragraph (18) of Code Section 20-3-262. (2) ‘‘Student’’ or ‘‘eligible student’’ means a ‘‘student’’ or ‘‘eligible student’’ as such term is defined in paragraph (21) of Code Section 2…

The pledge of any revenues or assets of the authority to the payment of the principal of or the interest on any obligations of the authority shall be valid and binding from the time when the pledge is made; and any such assets or revenues shall immediately be subject to the lien …

Any holder of obligations issued by the authority under this subpart or of any coupons appertaining thereto and any trustee under any resolution authorizing the issuance of such obligations or trust indenture securing such obligations, except to the extent the rights given in thi…

Notwithstanding Code Sections 20-3-340 through 20-3-348 or any recitals in any obligations issued by the authority under this subpart, all such obligations and interest coupons appertaining thereto shall be and are made negotiable instruments under the laws of the state, 223 20-3…

The board of regents shall submit to the Governor annual reports of its transactions, together with such information as is necessary to show the condition of the university system and with such suggestions as it may deem conducive to the good of the system and the cause of educat…

(a) The authority is authorized to provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding which shall have been issued under this subpart, including the payment of any redemption premium thereon and any interest accrued or …

The authority shall be authorized, in connection with the issuance of its bonds or other obligations pursuant to this subpart, to establish, in respect of such bonds or obligations, such reserve funds or replacement funds as may be required in the sound discretion of its board of…

The authority is authorized to accept and expend such moneys as may be appropriated from time to time by the legislature and income from the operations of the authority under this subpart, subject to any resolution, trust indenture, or other agreement with the holders of any of i…

While any of the bonds issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished or impaired in any manner that will affect adversely the interests and rights of the holders of su…

Upon termination or dissolution of the authority, all assets, rights, and properties of the authority under the authority of this subpart shall pass to and be vested in the state to be used for educational purposes, subject to the rights of lienholders and other creditors under t…

This subpart and part shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, shall be regarded as supplemental and additional to any powers conferred by other laws upon the authority, and shall not be regarded as in derogat…

The applicability of the doctrine of sovereign immunity to the board of regents is reaffirmed, except to the extent that the General Assembly may expressly provide. (Ga. L. 1976, p. 452, § 1.)

Article 2 20-3-38. Board of Regents and University System 20-3-39. PART 1 BOARD OF REGENTS 20-3-20. 20-3-21. 20-3-22. 20-3-23. 20-3-24. 20-3-25. 20-3-26. 20-3-27. 20-3-28. 20-3-29. 20-3-30. 20-3-31. 20-3-31.1. 20-3-32. 20-3-33. 20-3-34. Creation; change of name of ‘‘Trustees of t…

The General Assembly finds that students and parents are not always able to obtain educational loan assistance from a commercial lender under the Georgia Higher Education Loan Program provided for in Part 2 of this article; that a need exists to make additional educational loan f…

As used in this subpart, the term: (1) ‘‘School’’ means ‘‘school’’ as such term is defined in paragraph (18) of Code Section 20-3-262 and in regulations of the authority. (2) ‘‘Student’’ or ‘‘eligible student’’ means a ‘‘student’’ or ‘‘eligible student’’ as such term is defined i…

(a) The authority shall maintain a general loan fund to which shall be credited: (1) State funds appropriated for use by the authority for educational loan purposes as specified in this subpart other than service cancelable loans; (2) Unrestricted moneys received by gift or other…

Definitions. State funded educational loan program authorized; powers of authority. General loan fund. Service cancelable loan fund; authorized types of service cancelable educational loans. Income credited to authority administration fund; transfer of surplus to general loan fun…

(a) The assent of the General Assembly is given to the act of Congress approved by the President on May 8, 1914, entitled ‘‘An act to provide for cooperative agriculture extension work between the United States Department of Agriculture and the agricultural colleges of the severa…

The General Assembly finds that many attorneys graduate from law school with substantial education debt; that the debt that saddles law school graduates prohibits many from considering public interest work; that Georgia law firms, on average, pay first year associates more than t…

As used in this subpart, the term: (1) ‘‘Assistant district attorney’’ means an attorney employed full time as an assistant district attorney. (2) ‘‘Assistant solicitor-general’’ or ‘‘assistant solicitor’’ means an attorney employed full time as an assistant solicitor-general, as…

(a) There is created the Public Interest Lawyers’ Fund. (b) The authority shall maintain the fund to which shall be credited: (1) State funds appropriated for use by the authority for education loan forgiveness purposes; and 235 20-3-385 (2) Unrestricted moneys received by gift o…

The General Assembly finds that a substantial number of qualified Georgia students are not financially able to meet the costs of obtaining a postsecondary education due to a lack of family resources; that it would not be sound public policy to expect such students to borrow the t…

As used in this subpart, the term: (1) ‘‘Cost of attendance’’ of a student means the cost of attendance calculated in accordance with Title IV. (2) ‘‘Eligible high school’’ has the same meaning as provided in Code Section 20-3-519. (3) ‘‘Eligible postsecondary institution’’ means…

(a) The authority shall establish and maintain a separate fund for loans in accordance with this subpart to which shall be credited: (1) State funds appropriated for use for loans under this subpart; (2) Moneys received by gift, donation, or otherwise for loans under this subpart…

(a) The authority shall by rule and regulation establish a repayment schedule or schedules for loans made under this subpart. Students shall be required to pay accrued interest annually on the loan or loans while attending a postsecondary institution except in cases of financial …

A student is ineligible for any loan described in this subpart if the student: (1) Is not a United States citizen or a permanent resident alien who meets the definition of an eligible noncitizen under federal Title IV requirements; (2) Has not complied with United States Selectiv…

(a) The operation of the Georgia Capitol Museum which was formerly under the control and supervision of the Secretary of State shall as of July 1, 2011, be transferred to the Board of Regents of the University System of Georgia. The board of regents shall designate one or more pe…

This subpart shall be known and may be cited as the ‘‘Graduate On Time Student Loan Act.’’ (Code 1981, § 20-3-400, enacted by Ga. L. 2008, p. 626, § 3/SB 169.) 244 20-3-400.1 POSTSECONDARY EDUCATION 20-3-400.1 20-3-400.1. Definitions.

As used in this subpart, the term: (1) ‘‘Beginning date of a postsecondary course of study’’ means the first day of postsecondary classes attended by a student for credit toward an associate degree or baccalaureate degree. In the case of a program that includes undergraduate stud…

(a) The authority is authorized to provide direct loans to students who are legal residents of this state and who are not ineligible under Code Section 20-3-400.6 in accordance with the provisions of this subpart and regulations of the authority promulgated to implement this subp…

(a) When the annual interest rate is converted to 1 percent in accordance with subsection (e) of Code Section 20-3-400.2, the authority shall recalculate the balance owed on the loan to reflect the retroactive change in the interest rate. (b) The steps of the recalculation requir…

(a) The authority shall establish and maintain a separate fund for loans in accordance with this subpart to which shall be credited: 249 20-3-400.4 EDUCATION 20-3-400.6 (1) State funds appropriated for use for GOT Student Loans; (2) Moneys received by gift, donation, or otherwise…

(a) The authority shall by rule and regulation establish a repayment schedule or schedules for GOT Student Loans. Students shall be required to pay accrued interest annually while attending a postsecondary institution except in cases of financial hardship. Students shall not be r…