Section 36-9-83 - Repayment of loans from education assistance program not repaid by employment. - South Dakota Statutes

36-9-83. Repayment of loans from education assistance program not repaid by employment. All loans awarded from the nurses' education assistance loan program shall meet the following repayment requirements if repayment by employment is not elected or accomplished:
(1) Payments shall begin within sixty days after graduation or withdrawal from the nursing education program unless such period is extended by the South Dakota Board of Nursing;
(2) Payments of at least one-sixtieth of the deferred principal amount of the loan plus accrued interest shall be made to the South Dakota Board of Nursing by the fifth day of each month until the note including accrued interest is satisfied;
(3) The South Dakota Board of Nursing has the right to use any legal method for collection of delinquent accounts including the right to refer the account to a commercial collection agency.

Source: SL 1989, ch 325, § 8.