Arkansas Code Title 6. Education § 6-81-201. Purpose

(a) The Student Loan Guarantee Foundation of Arkansas, a private nonprofit corporation organized under the laws of this state for the purposes, as stated in its articles of incorporation, “to do any and all necessary things to implement the student loan fund program as provided for in Pub. L. No. 89-329 and in such other programs of like or similar nature which may be established by the federal or state governments in the future”, and which has been designated by the Governor and recognized by the United States Government as the appropriate agency in this state to administer such student loan programs, is recognized and confirmed as the agency in this state to administer the student loan provisions of that United States law, or comparable laws enacted by the United States Congress, for the purpose of providing guaranteed student loans to citizens of this state attending institutions of higher education or vocational and technical training schools.