11 KAR 17:010. Definitions for 11 KAR
Chapter 17.
RELATES TO: KRS 164A.700-164A.709
STATUTORY AUTHORITY: KRS 164A.704(1)
NECESSITY, FUNCTION, AND CONFORMITY: KRS
164A.704(1) requires the board to promulgate administrative regulations to
implement KRS 164A.700 to 164A.709. This administrative regulation establishes
the definitions for 11 KAR Chapter 17.
Section 1. Definitions. (1)
"Application period" means the period during which applications for a
prepaid tuition contract shall be received by the office.
(2) "Board" means the Board of
Directors of the Commonwealth Postsecondary Education Prepaid Tuition Trust
Fund.
(3) "Eligible educational
institution" is defined by KRS 164A.700(3).
(4) "Full-time enrollment"
means, for purposes of determining the payout value of a prepaid tuition
account, sixteen (16) semester hours or the equivalent under a trimester or
quarter system at an eligible educational institution.
(5) "Fund" is defined by KRS
164A.700(4).
(6) "KAPT" or "Kentucky's
Affordable Prepaid Tuition Plan" means the name by which the Commonwealth
Postsecondary Education Prepaid Tuition Trust Fund shall be marketed and
promoted, in accordance with KRS 164A.700(4) and 164A.704(9).
(7) "Mandatory fees" means, for
purposes of determining the value of a prepaid tuition account, fees required
as a condition of enrollment incurred by all students at an eligible
educational institution.
(8) "Office" means the Tuition
Account Program Office in the Kentucky Higher Education Assistance Authority
that is responsible for administering the prepaid tuition accounts.
(9) "Prepaid tuition" is
defined by KRS 164A.700(6).
(10) "Prepaid tuition account"
is defined by KRS 164A.700(9).
(11) "Prepaid tuition contract"
is defined by KRS 164A.700(10).
(12) "Projected enrollment
date" means the estimated date that the qualified beneficiary shall be
enrolled and attend an eligible educational institution.
(13) "Purchaser" is defined by
KRS 164A.700(13).
(14) "Qualified beneficiary" is
defined by KRS 164A.700(14).
(15) "Qualified postsecondary
education expenses" is defined by KRS 164A.700(16).
(16) "Tuition" is defined by
KRS 164A.700(15).
(17) "Value of a prepaid tuition
account" is defined by KRS 164A.700(18). (30 Ky.R. 757; Am. 1193; eff.
12-1-2003; 31 Ky.R. 377; 698; eff. 11-5-04.)