{"data":{"id":"us-ky/krs-164a.020","jurisdiction":"us-ky","citation":"KRS 164A.020","heading":"Definitions.","body":"The following words and terms, unless the context clearly indicates a different meaning,\nshall have the following respective meanings:\n(1) \"Board\" means the board of directors of the corporation.\n(2) \"Bonds\" or \"notes\" means the bonds or bond anticipation notes authorized to be\nissued by the corporation pursuant to this chapter.\n(3) \"Corporation\" means the Kentucky Higher Education Student Loan Corporation, an\nindependent de jure municipal corporation and political subdivision of the\nCommonwealth of Kentucky created to perform essential governmental services.\n(4) \"Eligible institution\" means any educational institution described as an eligible\ninstitution in the federal act which has, if required by the guarantee agency, a\ncontract in force with the guarante e agency pursuant to the federal act and this\nchapter.\n(5) \"Eligible lender\" means the Kentucky Higher Education Assistance Authority, a de\njure political subdivision of the Commonwealth of Kentucky and the corporation\nand all other entities described as e ligible lenders in the federal act which have in\nforce a contract with the guarantee agency providing for loan guarantees to be\nissued by the guarantee agency to the subject lender under the federal act and this\nchapter.\n(6) \"Federal act\" means the Higher Education Act of 1965, as from time to time\namended, codified as 20 U.S.C. secs. 1001 et seq.\n(7) \"Guarantee agency\" means the Kentucky Higher Education Assistance Authority\nduly organized and existing pursuant to the statutory laws of the Commonwealth of\nKentucky or any agency authorized as a guarantor pursuant to the federal act.\n(8) \"Qualified student\" means a student who qualifies for an insured student loan under\nthe federal act.\n(9) \"Insured student loan\" means a loan to a qualified student on which t he payment of\nprincipal and interest is at least ninety -five percent (95%) insured by the guarantee\nagency and reinsured by the Secretary of Education of the United States in\naccordance with the requirements of the federal act, or at least ninety -five percent\n(95%) insured as to principal amount by the United States under the federal act or\nthe Health Professions Educational Assistance Act of 1976, codified as 42 U.S.C.\nsecs. 294 et seq. as from time to time amended. As used in connection with the\npurchase, making, or acquisition of insured student loans by the corporation, the\nterm insured student loan shall further mean and refer to any contingent interest,\nsecurity interest, pledge, commitment, chose in action, or other property interest in\nany such loan.","path":["KRS Chapter 164A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4531","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:19Z","sha256":"2805adb685c809e27a8094f035530fbb960f8ecd65d13c239f50b900019b86ef","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164a.011","next":"us-ky/krs-164a.030"},"notice":"GroundRules: Original legal text. Not legal advice."}