Payments made by Arkansas Rehabilitation Services under the Arkansas Rehabilitation Services Forgiveness of Student Loan Program will satisfy the following criteria:

1. (1) Payments will be issued directly to the student loan creditor identified by the individual at the time of application to the program;

2. (2) Each installment will be the lesser of:

   1. (A) Two thousand dollars ($2,000); or
   2. (B) The current loan payoff amount;

3. (3)

   1. (A) Each installment is conditioned upon the participant’s continual employment over the two (2) years preceding the date that the payment is issued.
   2. (B) For example, an individual who is determined eligible on August 1 of State Fiscal Year 2022 must be employed until August 1 of State Fiscal Year 2024 in order for an installment to be issued;
4. (4) Participants may receive up to five (5) installments, not to exceed ten thousand dollars ($10,000), under the program; and
5. (5) Total payments under the program in a given state fiscal year shall not exceed eighty thousand dollars ($80,000).