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I.EXECUTIVE ORDERS - page 294 / 359

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D.Monetary Repayment. A recipient may be terminated from participation in the program either with or without default.

1.Termination without Default
a.Termination without default occurs when:
(i)the recipient’s enrollment in the degree program for which he received Program funds is discontinued;
(ii)the recipient fails to remain enrolled on a full-time basis, or 2/3 time for doctoral students; or
(iii)the recipient fails to maintain good academic standing.
b.In the event of termination without default, the recipient must repay the total of program funds received plus interest to LOSFA within 90 days of the date an event listed in §1609.D.1.a.(i)-(iii) occurs.
c.Interest will accrue at the prime interest rate at the time the condition in §1609.D.1.a.(i)-(iii) occurs plus 3 percent. Interest will accrue from the date of each disbursement.
2.Termination with Default
a.Termination with default occurs:
(i)if, upon completion of the degree, the recipient fails to obtain a full-time faculty position in a nurse or allied health education program or fails to obtain approval for an alternative service position without just cause; or
(ii)the recipient is terminated from his employment for cause or voluntarily leaves his employment prior to fulfillment of the teaching obligation.
b.In the event of termination with default, the principal due at the time of default will be calculated in accordance with the following formula.
(i)[(a/b) x (b-c)]3 = d.
(ii)For purposes of the formula above, “a” is equal to the total of the loans disbursed; “b” is equal to the months of service obligation required; “c” is equal to the number of months of the teaching obligation that were fulfilled; and “d” is equal to the total principal balance at the time repayment begins.
c.Interest will accrue on the principal due at the prime rate at the time of default plus 3 percent.
d.Interest will begin to accrue 60 days following the board’s determination that the recipient is in default and shall accrue for the duration of the repayment period.
e.The recipient must make payment in full of the total amount due or begin making monthly payments no later than 60 days after the date of default and shall pay at least 25 percent of the total amount, including interest, due each calendar year.

AUTHORITY NOTE:Promulgated in accordance with R.S. 17:3021-3036, R.S. 17:3042.1, R.S. 17:3048.1 and R.S. 17:3048.5.

HISTORICAL NOTE:Promulgated by the Student Financial Assistance Commission, Office of Student Financial Assistance, LR 35:

§1611.Responsibilities of Program Fund Recipients

A.Each recipient of program funds shall:

1.provide LOSFA with a completed master promissory note and W-9 form;
2.provide the board with documentation that he was enrolled, in good academic standing, full- time, or 2/3 time for doctoral students, not later than August 15, January 15, or June 15, if applicable, of each academic year during which he is to receive program funds;
3.provide the board with documentation that he has undertaken to discharge his obligation:
a.by teaching full-time as a nurse or allied health program faculty member; or
b.by working in a public health facility, state office, or other alternative service as the Board previously approved in accordance with §1615.F.

D.Provide any other information to the board or LOSFA as deemed necessary to process a request for an exception to the program requirements or a request for discharge of the obligations of the recipient in connection with the receipt of program funds.

AUTHORITY NOTE:Promulgated in accordance with R.S. 17:3021-3036, R.S. 17:3042.1, R.S. 17:3048.1 and R.S. 17:3048.5.

HISTORICAL NOTE:Promulgated by the Student Financial Assistance Commission, Office of Student Financial Assistance, LR 35:

§1613.Responsibilities of Participating Institutions

A.Each participating institution shall:

1.nominate individuals to participate in the Health Educator Loan Forgiveness Program in accordance with specifications to be provided to it by the Board of Regents.
2.provide the board with the following information on each nominee:
a.name;
b.current address;
c.social security number;
d.program of study; and
e.anticipated graduation date;
f.other information as requested by the board.
3.At the request of the board, provide documentation that recipients enrolled full-time, or at least two-thirds time for doctoral students, if the recipient is enrolled at that institution, and that the student is in good academic standing.
4.At the request of the board, provide documentation that a recipient is or was employed as a full-time registered nurse or allied health education faculty member.

AUTHORITY NOTE:Promulgated in accordance with R.S. 17:3021-3036, R.S. 17:3042.1, R.S. 17:3048.1 and R.S. 17:3048.5.

HISTORICAL NOTE:Promulgated by the Student Financial Assistance Commission, Office of Student Financial Assistance, LR 35:

§1615.Responsibilities of the Board of Regents

A.The Board of Regents shall notify each institution that is eligible to participate in the program of its eligibility, the number of students it may nominate for the academic year, and the number of those students nominated which may be enrolled as a masters or doctoral degree students.

B.The board shall collect information from the participating institutions as set forth in §1613.A-D. The board shall notify all participating institutions if additional information is required.

C.The board shall provide the information collected from participating institutions regarding nominees to LOSFA within 30 days of receipt in a format to be agreed upon between the board and LOSFA.

Louisiana Register   Vol. 34, No. 10   October 20, 2008

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