(a) The governing board of directors for the Tennessee student assistance corporation as of June 30, 2025, is terminated on July 1, 2025. Effective July 1, 2025, the Tennessee higher education commission, created by § 49-7-201, shall serve as the governing board of directors for the Tennessee student assistance corporation.
(b) The Tennessee student assistance corporation shall carry out the purposes of this part and parts 3 and 6-9 of this chapter. The commission is authorized and empowered to expend for the necessary administration of this part and parts 3 and 6-9 of this chapter any funds appropriated, received, or allocated for the purposes of this part and parts 3 and 6-9 of this chapter.