Eligible education loans shall be repaid under the following conditions:
  (1) the annual repayment(s) shall be in one disbursement made payable to the holder(s) of the loan(s) or co-payable to the teacher and the holder(s) of the loan(s);
  (2) the Commissioner of Higher Education or his or her designee shall determine the maximum annual repayment amount in each fiscal year, taking into consideration the amount of available funding and the number of eligible applicants; and
  (3) the teacher shall not receive loan repayment assistance for more than five years.

Source Note: The provisions of this §23.36 adopted to be effective June 6, 2016, 41 TexReg 4002; transferred effective December 15, 2016, as published in the Texas Register November 25, 2016, 41 TexReg 9341; amended to be effective August 30, 2017, 42 TexReg 4302