Indiana Code 21-16-4-11. Student loan program fund; administration
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Terms Used In Indiana Code 21-16-4-11
- 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.
Sec. 11. Funds received under the loan program shall be deposited with the treasurer of state in a separate account known as the “student loan program fund”. The money remaining in the student loan program fund at the end of a state fiscal year does not revert to the state general fund but remains available to be used for providing student loans under this chapter. After consultation with the program director of the loan program, the treasurer of state shall invest the funds. The income earned on the invested amount is part of the fund.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.1-4.]
As added by P.L.2-2007, SEC.257. Amended by P.L.234-2007, SEC.50.