(a) The board may provide loan repayment assistance under this subchapter for the repayment of any student loan received by an eligible person through any lender for the cost of attendance at an institution of higher education or a private or independent institution of higher education for a semester or other term that ended in the five years immediately preceding the person's initial employment as a peace officer.
(b) If the loan is not a state or federal guaranteed student loan, the promissory note or other loan agreement document governing the terms of the loan must require all the loan proceeds to be used for expenses incurred by a person in attending an institution of higher education or a private or independent institution of higher education.
(c) The board may not provide loan repayment assistance under this subchapter for an eligible loan that is in default on the date the person's application for loan repayment assistance is submitted under Section 61.9953 or 61.9954.