§12523.__Allocation and distribution of funds; renewal

The chief executive officer shall establish by rule the allocation and distribution of funds available under this chapter.__Loans for students are for one academic year and may be renewed if the student maintains a grade point average of 2.5 based on a scale of 4.0 or an equivalent scale.

§12524.__Eligibility requirements

A postsecondary education loan may be given to a graduating high school senior or college student who is a resident of the State and demonstrates an interest in pursuing a career in law enforcement.__Preference must be given to students who have been accepted by or are currently enrolled in a state postsecondary educational institution.__Eligibility for renewal is as provided under section 12523.

§12525.__Payment; repayment; deferment

The payment of loans to the student, the procedure and schedule for repayment of the loan and the granting of a deferment are as established by rule of the authority.

§12526.__Funding

The Scholarships for Law Enforcement Education Fund is created under the jurisdiction of the authority as a nonlapsing, interest-earning, revolving fund to carry out the purposes of this chapter.__The authority may receive, invest and expend, on behalf of the fund, money from gifts, grants, bequests, loans and donations, in addition to money appropriated or allocated by the Legislature.__Loan repayments under this chapter or other repayments to the authority must be invested by the authority, as provided by law, with the earned income to be added to the fund.__ Money received by the authority on behalf of the fund, except interest income, must be used for the purpose designated in section 12522; interest income may be used for the designated purpose or to pay student financial assistance administrative costs incurred by the authority as determined appropriate by the authority.

§12527.__Rules

Rules adopted under this chapter are routine technical rules pursuant to Title 5, chapter 375, subchapter II-A.