335.251. Loan repayment contract--qualified employment--recovery of amounts due. - Missouri Statutes

Loan repayment contract--qualified employment--recovery of amountsdue.

335.251. Upon proper verification to the department by theeligible applicant of securing qualified employment in thisstate, the department shall enter into a loan repayment contractwith the eligible applicant to repay the interest and principalon the educational loans of the applicant to the limit of thecontract, which contract shall provide for instances of lessthan full-time qualified employment consistent with theprovisions of section 335.233, out of any appropriation made tothe professional and practical nursing student loan and nurseloan repayment fund. If the applicant breaches the contract byfailing to begin or complete the qualified employment, thedepartment is entitled to recover the total of the loanrepayment paid by the department plus interest on the repaidamount at the rate of nine and one-half percent per annum.

(L. 1990 H.B. 1429 § 18)