Over the years, the Texas Higher Education Coordinating Board has provided a variety of loans to eligible students within the state at below market interest rates. This has been possible, in part, because of our ability to fund our loan programs with the proceeds of tax-exempt bonds issued by the Coordinating Board in accordance with various state and federal laws.
In particular, a provision of the Internal Revenue Code imposes a requirement that will impact the required loan certification for our loans that are not federally guaranteed. This applies to the College Access Loan (CAL) Program.