§ 16-57-3. Definitions.

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RI Code › Title 16 › Chapter 16-57 › Section 16-57-3

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

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As used in this chapter, the following words and terms have the following meanings unless the context indicates another or different meaning or intent:

(1) Authority means the commissioner of postsecondary education.

(2) Commissioner of postsecondary education means the commissioner appointed by the council on postsecondary education pursuant to § 16-59-6 or the commissioners designee.

(3) Eligible borrower means a student, or the parent of a student, who is either a resident of the state or who, under rules promulgated by the office, is qualified to make an eligible loan.

(4) Eligible institution, subject to further particular or more restrictive definition by regulation of the office, means:

(i) An institution of higher learning;

(ii) A vocational school; or

(iii) With respect to students who are nationals of the United States, an institution outside the United States that is comparable to an institution of higher education or to a vocational school and that has been approved by the commissioner of postsecondary education for purposes of the guaranteed student loan program.

(5) Eligible loan means a loan to a student or to the parent of a student insured or guaranteed by the commissioner of postsecondary education, or by any other governmental or private agency, corporation, or organization having a reinsurance or guaranty agreement with the commissioner applicable to the student loan.

(6) Guaranteed student loan program means the program of federal student loan insurance and reinsurance administered by the commissioner of postsecondary education.

(7) Lender, subject to further particular or more restrictive definition by regulation of the office, means any governmental or private agency, corporation, organization, or institution designated as an eligible lender by federal statute, regulation, or administrative ruling for the purposes of the guaranteed student loan program.

(8) Participant means an individual, corporation, trust, or other person within the meaning of § 529 of the Internal Revenue Code [26 U.S.C. § 529], who makes contributions to the tuition savings program established pursuant to § 16-57-6.1 for purposes of paying qualified higher education expenses on behalf of a beneficiary.

(9) Participating institution means an institution for higher education that agrees to participate in a savings program or pre-paid tuition program established pursuant to this chapter.

(10) Pre-paid tuition program means a program administered by the division, in conjunction with the executive director of the Rhode Island Student Loan Authority and the commissioner of postsecondary education, that provides a means for qualified students, parents, and others responsible for paying the costs of education to fix all or a portion of the direct cost of attendance at participating institutions in one or more future years.

(11) Program means the tuition savings program established pursuant to § 16-57-6.1.

(12) Qualified higher education expenses means the costs of tuition, fees, books, supplies, and equipment required for enrollment or attendance at an institution of higher education, and other education costs defined by federal law.

(13) Secretary means the United States secretary of education.

(14) State means the state of Rhode Island.

(15) Student, as used with reference to the guaranteed student loan program and the parent loan program, means an individual who, under rules promulgated by the commissioner of postsecondary education, is enrolled or accepted for enrollment at an eligible institution and who is making suitable progress in the students education toward obtaining a degree or other appropriate certification in accordance with standards acceptable to the authority.

teed student loan program and the parent loan program, means an individual who, under rules promulgated by the commissioner of postsecondary education, is enrolled or accepted for enrollment at an eligible institution and who is making suitable progress in the students education toward obtaining a degree or other appropriate certification in accordance with standards acceptable to the authority.

(16) Tuition savings program or savings program means a program approved and administered by the general treasurer, in conjunction with the executive director of the Rhode Island Student Loan Authority, and the commissioner of postsecondary education, designed to facilitate and encourage savings by, or on behalf of, students, future students, and parents for the purpose of paying the costs of attending institutions of higher education.

(17) Council means the council on postsecondary education established pursuant to § 16-59-1.

(18) Division means the Rhode Island division of higher education assistance, the division authorized, created, and established pursuant to § 16-57-4, and dissolved pursuant to the provisions of § 16-57-4.1.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.