Ala. Admin. Code r. 610-X-16-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 610-X-16-.03 - Loan Conditions

(1) Loans may be awarded for multiple years of graduate study, as specified in statute.

(2) Each loan is limited to a maximum of fifteen thousand dollars ($15,000).

(3) Participants shall be selected from the state of Alabama at large and, to the extent practicable, distributed throughout the State.

(4) Participants shall agree. to provide verification of employment when requested by the Board.

(5) Participants shall sign a contract to repay the amount of the loan by working following graduation as full-time instructors in qualified nursing education programs for the time required in Code of Ala. 1975, § 34-21-152.

(6) Participants shall notify the Board if any of the following conditions apply:

(a) Failure to complete the graduate nursing program when anticipated.

(b) Relocation.

(c) Employment following graduation from the graduate nursing program, as provided in this chapter.

(d) Failure to complete the minimum number of academic hours required by the loan repayment agreement.

(e) Withdrawal from the graduate nursing program.

(f) Termination of employment during the period of obligation.

(7) The Boards shall develop and prescript such forms of application, agreements, or other documents as may be necessary to implement this chapter.

Ala. Admin. Code r. 610-X-16-.03

Adopted by Alabama Administrative Monthly Volume XLI, Issue No. 12, September 29, 2023, eff. 11/13/2023.

Author: Alabama Board of Nursing

Statutory Authority:Code of Ala. 1975, § 34-21-152.