(a) Application.

1. (1) Students must submit an application for the Out-of-State Veterinary Medical Education Loan Program to the Division of Higher Education.
2. (2) The application is available online at the scholarship website.

(b) Submission of application and application deadline.

1. (1) The application deadline shall be July 1 of the calendar year in which a student graduates and begins practicing food supply veterinary medicine in Arkansas.
2. (2) At its discretion, the division may extend the deadline, provided sufficient notice is provided to the public.
3. (3) The student is responsible for submitting the application and all supporting documentation in a timely manner.

(c)

1. (1) Upon receipt by the division, applications are reviewed to ensure that all pertinent data is included.
2. (2) Each applicant will receive confirmation of the receipt and completeness of the application.
3. (3) For those whose application is either incomplete or ineligible, a notification will be made identifying the reason for the incompleteness or ineligibility.
4. (4) The applicant will then have the opportunity to provide the missing information or correct any inaccurate information.
5. (5) Before an applicant can be considered for an award, the corrected/missing information must be received by the division by the deadline indicated in the incomplete/ineligible notice.

(d) Selection and notification of recipients.

1. (1) The division shall review applicants and select recipients based on the eligibility criteria for the program.
2. (2) Selected recipients will receive award notices stating their eligibility for the program and the conditions of their award.
3. (3) Awards will be provided based on available funding.
4. (4) Awards will be made on a first-come, first-serve basis.

(e) Disbursement of award.

1. (1) The award will be disbursed in one (1) disbursement to the federal student loan holder indicated by the applicant.
2. (2) If the award amount is larger than the outstanding loan balance, the award amount will be reduced to the amount of the loan balance.