R434-40-3. Loan Repayment Grant Terms and Service

(1) The department may provide a loan repayment grant to geriatric, health care, and mental health professionals to repay loans taken for educational expenses in exchange for their agreement to serve for a specified period at an approved site in the state. (2) The department may only award a loan repayment grant to repay eligible bona fide loans taken by eligible individuals for educational expenses incurred while pursuing an educational degree qualification to practice in the applicant's professional field. (3) A recipient's total assistance under this rule may not be: (a) used to satisfy other obligations owed by the recipient under any similar program; (b) used to repay a loan that is in default at the time of application; or (c) in an amount greater than the total outstanding balance on any eligible bona fide loan listed in the application, including accrued interest. (4) A recipient must perform at least 90 days of service at an approved site before the department may disburse any grant money under Section 26B-4-702.