Loan repayment program to cover certain loans — amount paid per year of obligated service — schedule of payments — communities sharing costs to be given first consideration
Effective Aug 13, 1988(L. 1988 H.B. 1380 § 6)
Viewing an earlier version · effective Aug 13, 1988View current - 1. A loan payment provided for an individual under a written contract under the medical school loan payment program shall consist of payment on behalf of the individual of the principal, interest, and related expenses on government and commercial loans received by the individual for tuition, fees, books, laboratory, and living expenses incurred by the individual.
- 2. For each year of obligated services that an individual contracts to serve in an area of defined need, the director may pay up to twenty thousand dollars on behalf of the individual for loans described in subsection 1 of this section.
- 3. The department may enter into an agreement with the holder of the loans for which repayments are made under the medical school loan payment program to establish a schedule for the making of such payments if the establishment of such a schedule would result in reducing the costs to the state.
- 4. Any qualifying communities providing a portion of a loan repayment shall be considered first for placement.
(L. 1988 H.B. 1380 § 6)