Kan. Admin. Regs. § 88-9b-6

Current through Register Vol. 43, No. 49, December 5, 2024

Section 88-9b-6 - Repayment

(a) Each adult learner grant recipient who fails to meet the requirements of the adult learner grant agreement and has not timely sought and received a postponement or release from the obligations of the agreement shall repay the total amount of adult learner grant funds disbursed to or on behalf of the recipient, plus interest at the rate prescribed by K.S.A. 2023 Supp. 74-32,286, and amendments thereto.

(b) Repayment of all funds shall become due immediately upon failure to meet the adult learner grant agreement terms, conditions, and requirements.

(c) Repayment shall be made to the Kansas board of regents' designated loan servicer or collections agency. All payments shall be made in the manner required by the loan servicer or collections agency.

(d) Any recipient may repay the grant and interest in monthly installments of at least 1/60 of the total amount owed. Each recipient who chooses to make installment payments shall make those payments as follows:

(1) Payments owed shall commence within 180 days of the board's designee's determination of failure to comply with the adult learner grant agreement obligation and shall be completed within five years following the date of the act or circumstance that causes the recipient to fail to remain eligible and qualified or to meet the obligations of the adult learner grant agreement.

(2) If an installment payment becomes 10 days overdue, the entire amount outstanding shall become immediately due and payable, including all interest, without further notice or opportunity to remedy the default.

(3) The total repayment obligation may be met at any time by making a single lump-sum payment equal to the total of the following:

(A) The entire amount to be repaid upon failure to meet the obligations under the adult learner grant agreement; and

(B) all amounts of interest at the rate prescribed in K.S.A. 2023 Supp. 74-32,286, and amendments thereto, accrued on or before the date of full payment.

Kan. Admin. Regs. § 88-9b-6

Authorized by K.S.A. 2023 Supp. 74-32,282; implementing K.S.A. 2023 Supp. 74-32,286; adopted by Kansas Register Volume 43, No. 14; effective 4/19/2024.