37-106-17 - Applications for assistance.
§ 37-106-17. Applications for assistance.
Any student desiring financial assistance, and who is in attendance or accepted for attendance at an approved institution, shall submit an application to the board. The director shall use the criteria as are established by the regulations promulgated under authority of this chapter in determining the eligibility of each applicant. If it appears to the board that sufficient funds will not be available to fund loans to all eligible applicants, the board may provide that priority shall be given those applicants with the greatest demonstrated financial need, and may limit the amount of financial assistance to any applicant to the amount of such applicant's demonstrated financial need. Provided, however, that no such loan shall be approved unless the repayment of such loan is guaranteed by an agency of the federal government.
Sources: Laws, 1975, ch. 507, § 6(3), eff from and after passage (approved April 8, 1975).