TITLE 16

Education

CHAPTER 16-57

Higher Education Assistance Authority [See Title 16 Chapter 97 – The

Rhode Island Board of Education Act]

SECTION 16-57-3



   § 16-57-3  Definitions. –

As used in this chapter, the following words and terms have the following

meanings unless the context indicates another or different meaning or intent:



   (1) "Authority" means the governmental agency and public

instrumentality previously authorized, created, and established pursuant to

§ 16-57-4.



   (2) "Commissioner of postsecondary education" means the

commissioner appointed by the council on postsecondary education pursuant to

§ 16-59-6 or his or her designee.



   (3) "Eligible borrower" means a student, or the parent of a

student, who is either a resident of the state or who, under rules promulgated

by the office, is qualified to make an eligible loan.



   (4) "Eligible institution", subject to further particular or

more restrictive definition by regulation of the office, means:



   (i) An institution of higher learning;



   (ii) A vocational school; or



   (iii) With respect to students who are nationals of the

United States, an institution outside the United States that is comparable to

an institution of higher education or to a vocational school and that has been

approved by the commissioner of postsecondary education for purposes of the

guaranteed student loan program.



   (5) "Eligible loan" means a loan to a student or to the

parent of a student insured or guaranteed by the commissioner of postsecondary

education, or by any other governmental or private agency, corporation, or

organization having a reinsurance or guaranty agreement with the commissioner

applicable to the student loan.



   (6) "Guaranteed student loan program" means the program of

federal student loan insurance and reinsurance administered by the commissioner

of postsecondary education.



   (7) "Lender", subject to further particular or more

restrictive definition by regulation of the office, means any governmental or

private agency, corporation, organization, or institution designated as an

"eligible lender" by federal statute, regulation, or administrative ruling for

the purposes of the guaranteed student loan program.



   (8) "Participant" means an individual, corporation, trust, or

other "person" within the meaning of § 529 of the Internal Revenue Code

[26 U.S.C. § 529], who makes contributions to the tuition

savings program established pursuant to § 16-57-6.1 for purposes of paying

qualified higher education expenses on behalf of a beneficiary.



   (9) "Participating institution" means an institution for

higher education that agrees to participate in a savings program or pre-paid

tuition program established pursuant to this chapter.



   (10) "Pre-paid tuition program" means a program administered

by the division, in conjunction with the executive director of the Rhode Island

Student Loan Authority and the commissioner of postsecondary education, that

provides a means for qualified students, parents, and others responsible for

paying the costs of education to fix all or a portion of the direct cost of

attendance at participating institutions in one or more future years.



   (11) "Program" means the tuition savings program established

pursuant to § 16-57-6.1.



   (12) "Qualified higher education expenses" means the costs of

tuition, fees, books, supplies and equipment required for enrollment or

attendance at an institution of higher education, and other education costs

defined by federal law.



   (13) "Secretary" means the United States secretary of

education.



   (14) "State" means the state of Rhode Island and Providence

Plantations.



   (15) "Student", as used with reference to the guaranteed

student loan program and the parent loan program, means an individual who,

under rules promulgated by the division, is enrolled or accepted for enrollment

at an eligible institution and who is making suitable progress in his or her

education toward obtaining a degree or other appropriate certification in

accordance with standards acceptable to the authority.



   (16) "Tuition savings program" or "savings program" means a

program approved and administered by the general treasurer, in conjunction with

the executive director of the Rhode Island Student Loan Authority, and the

commissioner of postsecondary education, designed to facilitate and encourage

savings by, or on behalf of, students, future students, and parents for the

purpose of paying the costs of attending institutions of higher education.



   (17) "Council" means the council on postsecondary education

established pursuant to § 16-59-1.



   (18) "Division" means the Rhode Island division of higher

education assistance, the division authorized, created, and established

pursuant to § 16-57-4.



History of Section.

(P.L. 1977, ch. 238, § 1; P.L. 1981, ch. 43, § 1; P.L. 1985, ch. 79,

§ 1; P.L. 1997, ch. 81, § 1; P.L. 1997, ch. 91, § 1; P.L. 2001,

ch. 364, § 2; P.L. 2015, ch. 141, art. 7, § 6.)