Indiana § 21-16-4-3 - Lender conditions; guarantee percentage; interest rate
Full text of Indiana Indiana Code § 21-16-4-3 — Lender conditions; guarantee percentage; interest rate, with citation guidance and answers to common questions.
§ 21-16-4-3. Lender conditions; guarantee percentage; interest rate
Sec. 3. The commission may guarantee loans made by approved lenders upon conditions prescribed by the commission to residents who attend or plan to attend eligible institutions in Indiana or elsewhere, to assist the residents in meeting education expenses. The commission shall guarantee at least one hundred percent (100%) of the principal and interest on the loans. However, the rate of interest on guaranteed loans may not exceed the annual rate of simple interest prescribed for state student loan programs under federal law.
[Pre-2007 Higher Education Recodification Citation: 20-12-21.1-2(3).]
As added by P.L.2-2007, SEC.257.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 21-16-4-3
What does Indiana Code § 21-16-4-3 cover?
Section 21-16-4-3 ("Lender conditions; guarantee percentage; interest rate") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 21-16-4-3?
A common citation format is "Indiana Code § 21-16-4-3" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 21-16-4-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.