Loan Forgiveness

Section 5410 Section 5410.340  Loan Forgiveness The Authority shall provide in a Loan that for each individual who remains continuously employed on a full-time basis with the employer for one year after completion of the training program, up to a maximum of 25% of the eligible costs, as defined in Section 5410.310, attributable to that employee and financed by the loan, may be credited as partial repayment of the principal of such loan. (Section 18(d) of the Act)