Terms Used In Louisiana Revised Statutes 17:3023.4.1

  • Dependent: A person dependent for support upon another.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

A.  In addition to student loans authorized in Section 3023.4, parents of dependent undergraduate and vocational students, and graduate students shall be eligible to borrow funds under this Section.  No loan under this Section shall exceed three thousand dollars to a parent for any one dependent or to a graduate student for the fiscal year, nor shall the total outstanding loans under this Section to a parent for one dependent or to a graduate student exceed fifteen thousand dollars at any time.

B.  Independent undergraduate and vocational students shall also be eligible to borrow funds under this Section.

C.  The provisions of this Section shall be implemented in accordance with the terms and provisions of and within the amounts established by 20 U.S.C.  §1078-2.

Added by Acts 1981, No. 378, §2, eff. July 17, 1981.  Amended by Acts 1982, No. 835, §1, eff. Aug. 4, 1982.

  Previous section
Next section  
 Chapter 20 Contents