The following limitations apply to the Nursing Faculty Loan Repayment Assistance Program.
- (1) The total annual repayment to one or more eligible lenders shall not exceed $7,000.00.
- (2) A nursing faculty member may receive loan repayment assistance under this subchapter for a maximum of five years.
- (3) Funds will be available for loan repayment assistance under this subchapter only if there are gifts, grants, and donations made for this purpose and/or funds have been reallocated for this purpose from the Physician Education Loan Repayment Program Account at the end of a fiscal year.
- (4) Applications from nursing faculty will be considered by the Board only if funds are available for this purpose at the end of the state fiscal year.
Source Note:The provisions of this §23.193 adopted to be effective November 20, 2013, 38 TexReg 8199; transferred effective December 15, 2016, as published in the Texas Register November 25, 2016, 41 TexReg 9341.