KRS 335B.080: Definitions for KRS 335B.080 to 335B.100.

As used in KRS 335B.080 to 335B.100, unless the context otherwise requires:

(1) "Default" means the failure to repay a loan according to the terms agreed to in the

promissory note;

(2) "Delinquency" means the failure to make loan payments when they are due;

(3) "License" means any license, permit, certificate, registration, or other means

required to engage in an occupation that is granted or issued by the Commonwealth

of Kentucky, its agents, or political subdivisions before a person may pursue,

practice, or engage in any occupation;

(4) "Licensing authority" means the person, board, commission, or department of the

Commonwealth of Kentucky, its agencies, or political subdivisions, responsible by

law for the licensing of persons for occupations;

(5) "Scholarship" means an award of financial aid for a student to further the student's

education; and

(6) "Student loan" means a federally guaranteed or state -guaranteed loan for the

purposes of postsecondary education.