164.7531 Loan forgiveness programs. - Kentucky Statutes

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Page 1 of 1 164.7531 Loan forgiveness programs. (1) For purposes of this section, the terms "Best in Class for Teachers," "Best in Care for Nurses," and "Best in Law for Public Service Attorneys" mean the loan
forgiveness programs established by the Higher Education Assistance Authority
under its authority in KRS 164.744(2) and 164.748(7). The term "eligible program
participant" means an individual who has an outstanding loan balance on a loan
related to these loan forgiveness programs that were issued prior to June 30, 2008. (2) In the event that there are insufficient funds available from any source that can be used by the Kentucky Higher Education Assistance Authority to provide loan
forgiveness for an eligible program participant, the authority shall negotiate an
extended repayment schedule upon request by an eligible participant. The
negotiated schedule shall be in compliance with federal loan requirements.
Notwithstanding any other statute to the contrary, an eligible program participant in
this repayment schedule shall not forfeit eligibility for other loans or scholarships
that become available. Effective: March 24, 2009
History: Created 2009 Ky. Acts ch. 93, sec. 2, effective March 24, 2009.