Terms Used In Montana Code > Title 20 > Chapter 26 - Student Financial Assistance

• Accredited: means a school that is accredited by the board of public education pursuant to 20-7-102. See Montana Code 20-26-603
• Agency: means the entity designated by the board to administer student loans. See Montana Code 20-26-1101
• Board: means the board of regents of higher education. See Montana Code 20-26-1101
• Board: means the board of regents of higher education created by Article X, section 9(2), of the Montana constitution. See Montana Code 20-26-603
• Board of public education: means the board created by Article X, section 9, subsection (3), of the Montana constitution and 2-15-1507. See Montana Code 20-1-101
• Board of regents: means the board of regents of higher education created by Article X, section 9, subsection (2), of the Montana constitution and 2-15-1505. See Montana Code 20-1-101
• Commissioner: means the commissioner of higher education created by Article X, section 9, subsection (2), of the Montana constitution and 2-15-1506. See Montana Code 20-1-101
• Contract: A legal written agreement that becomes binding when signed.
• Department: means a principal functional and administrative entity that:

  (a)is created by this chapter within the executive branch of state government;

  (b)is one of the 20 principal departments permitted under the constitution; and

  (c)includes its units. See Montana Code 2-15-102

• Director: means a department head specifically referred to as a director in this chapter and does not mean a commission, board, commissioner, or constitutional officer. See Montana Code 2-15-102
• Eligible educational institution: means any institution approved by the United States secretary of education as eligible to participate in the student loan program pursuant to Title IV of the Higher Education Act of 1965, as amended. See Montana Code 20-26-1101
• Ex officio: Literally, by virtue of one's office.
• fund: means a separate detailed account of receipts and expenditures for a specific purpose as authorized by law or by the superintendent of public instruction under the provisions of subsection (2). See Montana Code 20-9-201
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Postsecondary institution: means :

  (a)a unit of the Montana university system, as defined in 20-25-201;

  (b)a Montana community college, defined and organized as provided in 20-15-101; or

  (c)an accredited tribal college located in the state of Montana. See Montana Code 20-26-603

• Principal: means a person who holds a valid class 3 Montana teacher certificate with an applicable principal's endorsement that has been issued by the superintendent of public instruction under the provisions of this title and the policies adopted by the board of public education and who has been employed by a district as a principal. See Montana Code 20-1-101
• Regents: means the board of regents of higher education. See Montana Code 20-1-101
• Scholarship: means a payment toward the cost of attendance at a qualifying postsecondary institution, rounded up to the nearest dollar. See Montana Code 20-26-603
• school: means an institution for the teaching of children that is established and maintained under the laws of the state of Montana at public expense. See Montana Code 20-6-501
• STEM or health care major: means a major that is related to science, technology, engineering, mathematics, or health care. See Montana Code 20-26-603
• Student loan program: means the program established by the board pursuant to this part. See Montana Code 20-26-1101
• System: means the Montana university system. See Montana Code 20-1-101
• Title IV: refers to Title IV of the Higher Education Act of 1965, as amended. See Montana Code 20-26-603
• University: means the university of Montana-Missoula. See Montana Code 20-1-101