Nursing Student Loan Program funding

(a) Cash funds for the Nursing Student Loan Program shall consist of: (1) Funds appropriated for the Nursing Student Loan Program; (2) Federal funds; (3) Gifts; (4) Grants; (5) Bequests; (6) Devises; (7) Donations; (8) Moneys received to repay a loan under this subchapter; (9) Interest and other income accruing to or earned by the funds; and (10) All moneys provided by law. (b) The Arkansas State Board of Nursing: (1) May invest the principal, interest, and income of the funds; (2) Shall use the funds for making loans for nursing scholarships; and (3) Shall deposit all loan repayments as a refund to expenditure to be used to make additional loans under this subchapter. Acts 2003, No. 84, § 2; 2009, No. 9, § 1. (a) Cash funds for the Nursing Student Loan Program shall consist of: (1) Funds appropriated for the Nursing Student Loan Program; (2) Federal funds; (3) Gifts; (4) Grants; (5) Bequests; (6) Devises; (7) Donations; (8) Moneys received to repay a loan under this subchapter; (9) Interest and other income accruing to or earned by the funds; and (10) All moneys provided by law. (1) Funds appropriated for the Nursing Student Loan Program; (2) Federal funds; (3) Gifts; (4) Grants; (5) Bequests; (6) Devises; (7) Donations; (8) Moneys received to repay a loan under this subchapter; (9) Interest and other income accruing to or earned by the funds; and (10) All moneys provided by law. (b) The Arkansas State Board of Nursing: (1) May invest the principal, interest, and income of the funds; (2) Shall use the funds for making loans for nursing scholarships; and (3) Shall deposit all loan repayments as a refund to expenditure to be used to make additional loans under this subchapter. (1) May invest the principal, interest, and income of the funds; (2) Shall use the funds for making loans for nursing scholarships; and (3) Shall deposit all loan repayments as a refund to expenditure to be used to make additional loans under this subchapter. Acts 2003, No. 84, § 2; 2009, No. 9, § 1.