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Students who receive forgivable loans under the B-On-Time program receive something in addition – an income tax form. Under federal law, forgivable loans such as the B-On-Time loan count as.
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The Texas B-On-Time Loan is a zero-interest loan for eligible Texas students. The entire amount borrowed can be forgiven provided that the borrower meets the forgiveness requirements. This loan is funded by the state of Texas and repayment is made to the Texas Higher Education Coordinating Board.