(a) The amount of tuition to be rebated to a student under this program is $1,000, unless the total amount of undergraduate tuition paid by the student to the institution awarding the degree was less than $1,000, in which event the amount of tuition to be rebated is an amount equal to the amount of undergraduate tuition paid by the student to the institution.     
      (b) A student who paid the institution awarding the degree an amount of undergraduate tuition less than $1,000 may qualify for an increase in the amount of the rebate, not to exceed a total rebate of $1,000, for any amount of undergraduate tuition the student paid to other Texas public institutions of higher education by providing the institution awarding the degree with proof of the total amount of that tuition paid to other institutions.     
      (c) Tuition rebates shall be reduced by the amount of any outstanding student loan, including an emergency loan, owed to or guaranteed by this state, including the Texas Guaranteed Student Loan Corporation. If a student has more than one outstanding student loan, the institution shall apply the amount of the rebate to the loans as directed by the student. If the student fails to provide timely instructions on the application of the amount, the institution shall apply the amount of the rebate to retire the loans with the highest interest rates first.     
     Source Note:        The provisions of this §13.84 adopted to be effective May 21, 2001, 26 TexReg 3627