(a) Policy. The General Assembly of North Carolina herebyfinds and declares that the making and insuring of loans to the eligibleparents of students is fully consistent with and furthers the long establishedpolicy of the State to encourage, promote and assist education as more fullyset forth in G.S. 116‑201(a).
(b) Definitions. As used in this section, the following termsshall have the following meanings:
(1) "Obligations", "student obligations", or"student loan obligations" as defined under G.S. 116‑201(b)(7)includes, unless the context indicates a contrary intent, parental obligations.
(2) "Parent" means a student's mother, father,adoptive parent, or legal guardian of the student if such guardian is requiredby court order to use his or her own financial resources to support thatstudent.
(3) "Parental loans" means loans made or guaranteed bythe Authority to a parent of an eligible student.
(4) "Parental obligations" means obligationsevidencing loans made pursuant to subsection (c) of this section.
(5) "Student loans" includes, unless the contextindicates a contrary intent, parental loans.
(c) Parental Assistance. The Authority is authorized todevelop and administer programs and perform all functions necessary orconvenient to promote and facilitate the making and insuring of loans toparents of students in order to facilitate the vocational and college educationof such students who are enrolled or to be enrolled in eligible institutions.The Authority is also authorized to provide such other services and loanassistance to parents of students as the Authority shall deem necessary ordesirable for carrying out the purpose of this section and for qualifying forloans, grants, insurance, and other benefits and assistance under any programof the United States now or hereafter authorized fostering loans to eligibleparents of students.
(d) Authorization to Buy and Sell Parental Obligations. TheAuthority is hereby authorized and empowered to buy and sell parentalobligations.
(e) Authorization to Issue Bonds. The Authority is herebyauthorized to provide for the issuance, at one time or from time to time, ofbonds or revenue bonds, as such terms are defined in G.S. 116‑201(4), inconformity with provisions of this section. (1981, c. 794, s. 1; 1987, c. 227, s. 9.)
(a) Policy. The General Assembly of North Carolina herebyfinds and declares that the making and insuring of loans to the eligibleparents of students is fully consistent with and furthers the long establishedpolicy of the State to encourage, promote and assist education as more fullyset forth in G.S. 116‑201(a).
(b) Definitions. As used in this section, the following termsshall have the following meanings:
(1) "Obligations", "student obligations", or"student loan obligations" as defined under G.S. 116‑201(b)(7)includes, unless the context indicates a contrary intent, parental obligations.
(2) "Parent" means a student's mother, father,adoptive parent, or legal guardian of the student if such guardian is requiredby court order to use his or her own financial resources to support thatstudent.
(3) "Parental loans" means loans made or guaranteed bythe Authority to a parent of an eligible student.
(4) "Parental obligations" means obligationsevidencing loans made pursuant to subsection (c) of this section.
(5) "Student loans" includes, unless the contextindicates a contrary intent, parental loans.
(c) Parental Assistance. The Authority is authorized todevelop and administer programs and perform all functions necessary orconvenient to promote and facilitate the making and insuring of loans toparents of students in order to facilitate the vocational and college educationof such students who are enrolled or to be enrolled in eligible institutions.The Authority is also authorized to provide such other services and loanassistance to parents of students as the Authority shall deem necessary ordesirable for carrying out the purpose of this section and for qualifying forloans, grants, insurance, and other benefits and assistance under any programof the United States now or hereafter authorized fostering loans to eligibleparents of students.
(d) Authorization to Buy and Sell Parental Obligations. TheAuthority is hereby authorized and empowered to buy and sell parentalobligations.
(e) Authorization to Issue Bonds. The Authority is herebyauthorized to provide for the issuance, at one time or from time to time, ofbonds or revenue bonds, as such terms are defined in G.S. 116‑201(4), inconformity with provisions of this section. (1981, c. 794, s. 1; 1987, c. 227, s. 9.)
(a) Policy. The General Assembly of North Carolina herebyfinds and declares that the making and insuring of loans to the eligibleparents of students is fully consistent with and furthers the long establishedpolicy of the State to encourage, promote and assist education as more fullyset forth in G.S. 116‑201(a).
(b) Definitions. As used in this section, the following termsshall have the following meanings:
(1) "Obligations", "student obligations", or"student loan obligations" as defined under G.S. 116‑201(b)(7)includes, unless the context indicates a contrary intent, parental obligations.
(2) "Parent" means a student's mother, father,adoptive parent, or legal guardian of the student if such guardian is requiredby court order to use his or her own financial resources to support thatstudent.
(3) "Parental loans" means loans made or guaranteed bythe Authority to a parent of an eligible student.
(4) "Parental obligations" means obligationsevidencing loans made pursuant to subsection (c) of this section.
(5) "Student loans" includes, unless the contextindicates a contrary intent, parental loans.
(c) Parental Assistance. The Authority is authorized todevelop and administer programs and perform all functions necessary orconvenient to promote and facilitate the making and insuring of loans toparents of students in order to facilitate the vocational and college educationof such students who are enrolled or to be enrolled in eligible institutions.The Authority is also authorized to provide such other services and loanassistance to parents of students as the Authority shall deem necessary ordesirable for carrying out the purpose of this section and for qualifying forloans, grants, insurance, and other benefits and assistance under any programof the United States now or hereafter authorized fostering loans to eligibleparents of students.
(d) Authorization to Buy and Sell Parental Obligations. TheAuthority is hereby authorized and empowered to buy and sell parentalobligations.
(e) Authorization to Issue Bonds. The Authority is herebyauthorized to provide for the issuance, at one time or from time to time, ofbonds or revenue bonds, as such terms are defined in G.S. 116‑201(4), inconformity with provisions of this section. (1981, c. 794, s. 1; 1987, c. 227, s. 9.)
