Current through Register Vol. XLI, No. 50, December 13, 2024
Section 135-8-8 - Monetary Repayment8.1. Each recipient of the West Virginia Invests Grant Program shall enter into an agreement with the Vice Chancellor for Administration agreeing to the following:8.1.1. Once a recipient completes their program of study or is no longer enrolled at least half-time, they must provide acceptable documentation as determined by the Council that they are continually residing in West Virginia for at least two years from the time the recipient drops below half-time.8.1.2. Recipients who are serving as a member of the armed services of the United States and maintaining legal residency in West Virginia while stationed for military purposes will be considered as meeting the residency requirement for the West Virginia Invests Grant Program.8.2. A recipient will be required to make monetary repayment if: 8.2.1. The recipient does not continually reside in West Virginia for two years upon completion of their program of study and after dropping below half-time enrollment; or8.2.2. It is determined that the recipient fraudulently obtained West Virginia Invests Grant Program funds; or8.2.3. The recipient does not provide acceptable documentation of continually residing in West Virginia in a timely manner.8.3. In addition to the repayment of the grant, interest will be charged at a rate determined by the Vice Chancellor for Administration and will begin to accrue at the time the repayment period begins.8.4. If a recipient fulfills a portion of the residency obligation, interest will accrue from the day on which the recipient ceased to be a resident of West Virginia. 8.4.1. The monetary repayment may be prorated based upon a percentage of the two years that the recipient resided in West Virginia.8.5.As permitted by federal law, applicable state regulations, and the terms of the grant agreement, reasonable collection costs, late charges and attorney fees may be assessed in the collection of delinquent accounts.8.6. Recipients have a ten-year period to repay the West Virginia Invests Grant Program funds. If extenuating circumstances exist, the Vice Chancellor for Administration, upon receipt of appropriate documentation, may extend the period of repayment to fifteen years.8.7. A recipient may request a deferment for pursuing a half-time course of study at an accredited institution of higher education or while serving on active duty as a member of the armed services of the United States.8.8. A recipient may request a forbearance due to monetary hardship, sickness, or other acceptable reasons as approved by the Vice Chancellor for Administration if a recipient is unable to make payments but does intend to fulfill the monetary obligation.8.9. A recipient's obligation is excused in the event the recipient:8.9.1. Becomes permanently or totally disabled as established by sworn affidavit of a qualified physician. The Vice Chancellor for Administration may require additional evidence of the disability8.9.2. Is deceased. A copy of the death certificate must be submitted.