173.787. Loan forgiveness, when. - Missouri Statutes

Loan forgiveness, when.

173.787. Eligible students who are in compliance with programrequirements may qualify for forgiveness of a loan or loans receivedthrough the program by agreeing to be employed in an occupational area ofhigh demand within the state of Missouri, as determined by the board, withsuch employment beginning within one calendar year of graduation by theindividual from an eligible institution, and as outlined in the contractpursuant to section 173.790. The employment qualifying the eligiblestudent for loan forgiveness shall be approved by the board. The boardshall approve loan forgiveness on a year-for-year basis, with each year ofapproved employment qualifying the student for the forgiveness of oneyear's loans. Students electing not to comply with these employmentrequirements, or students failing to meet these requirements shall berequired to repay with interest any or all loans received, pursuant to thecontractual provisions described in section 173.790.

(L. 1998 H.B. 1694)