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§ 17-90-111. Loans to optometry students

AR Code § 17-90-111 (2018) (N/A)
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(a) The Department of Higher Education shall provide a loan from the Higher Education Grants Fund Account that is in excess of the Southern Regional Education Board grant funds to any optometry student:

(1) Who is bona fide resident of the state;

(2) Who is enrolled in an optometry professional program outside the state; and

(3) For whom any part of the out-of-state tuition is paid by the State of Arkansas through the Southern Regional Education Board grant funds.

(b) A loan authorized by this section:

(1) Shall not exceed five thousand dollars ($5,000) annually;

(2) Shall be made:

(A) On an annual basis not to exceed the combined total of four (4) years; and

(B) At a rate of interest determined by the department, but not to exceed four percent (4%);

(3) May be forgiven at the rate of one (1) year's loan for one (1) year's practice in Arkansas;

(4) May be deferred, but for no longer than five (5) years, for the following reasons:

(A) Military service;

(B) Special training; or

(C) Extraordinary circumstances as determined by the department; and

(5) Shall be in addition to Southern Regional Education Board grant funds.

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