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This Memorandum of Understanding (MOU) sets forth the mutual understanding and agreement between and among Texas Education Agency (TEA), Texas Higher Education Coordinating Board (THECB), and Texas Guaranteed Student Loan Corporation (TG) (the "Parties") to jointly support the state of Texas in increasing student enrollments and completion in postsecondary education.
The Parties understand that it is vital for the State of Texas, its residents, and the state economy, that all Texas students, whether enrolled in public or private schools, become college-ready, and have access to a quality postsecondary education. The Parties further understand that collaboration among the state entities, schools, postsecondary institutions, and local and regional organizations will maximize our collective efforts to ensure that more Texans earn a postsecondary education.
Therefore, the Parties agree to work together to develop and carry out comprehensive plans that address two critical statewide objectives:
This MOU is designed to help the state of Texas achieve goals one and two of the Texas Higher Education Master Plan: Closing the Gaps by 2015.
To achieve these objectives, the Parties agree to:
Effective Dates
The MOU will become effective upon the signatures of the Commissioner of Education (TEA), Commissioner of Higher Education (THECB), and President and CEO (TG), and will remain in effect until it is so terminated by either party with 30 days written notice. The MOU, and its associated Communication Plan and Statewide Coordination Plan, must be reviewed for potential revisions, once every two years, within six months after the completion of the regular session of the Texas legislative session, beginning with the 80th Texas Legislature.
This Agreement is subject to all Texas and Federal laws. The Agreement is also subject, to the extent applicable, to the Higher Education Act (HEA) of 1965, as amended, 20 U.S.C. Section 1070, et seq., including but not limited to Section 422(g)(2) of HEA, 20 U.S.C. Section 1072(g)(2).
The MOU is hereby agreed to and signed on November 15, 2005, by:
Dr. Shirley J. Neeley
Commissioner
Texas Education Agency
Dr. Raymund Paredes
Commissioner
Texas Higher Education
Sue McMillin
President & CEO
Texas Guaranteed Student Loan Corporation