Texas § OC.1603.3604 - INTEREST ON REFUND
Full text of Texas The Texas Constitution § OC.1603.3604 — INTEREST ON REFUND, with citation guidance and answers to common questions.
§ OC.1603.3604. INTEREST ON REFUND
INTEREST ON REFUND. (a) If tuition is not refunded within the period required by Section 1603.3603 , the private postsecondary school shall pay interest on the amount of the refund for the period beginning the first day after the date the refund period expires and ending the day preceding the date the refund is made. (b) If tuition is refunded to a lending institution, the interest shall be paid to that institution and applied against the student's loan. (c) The commissioner of education shall annually set the interest rate at a rate sufficient to deter a school from retaining money paid by a student. (d) The department may exempt a school from the payment of interest if the school makes a good faith effort to refund the tuition but is unable to locate the student. The school shall provide to the department on request documentation of the effort to locate the student. Added by Acts 2021, 87th Leg., R.S., Ch. 663 (H.B. 1560 ), Sec. 3.29, eff. September 1, 2021.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § OC.1603.3604
What does The Texas Constitution § OC.1603.3604 cover?
Section OC.1603.3604 ("INTEREST ON REFUND") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § OC.1603.3604?
A common citation format is "The Texas Constitution § OC.1603.3604" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § OC.1603.3604 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.