Each loan contract shall include a provision that if the recipient completes his or her nursing education and qualification as a registered nurse, licensed practical nurse, or nursing educator, the Arkansas State Board of Nursing shall cancel the full amount of one (1) year's loan, plus accrued interest, under this subchapter for each year that the recipient practices or teaches in this state.
Structure Arkansas Code
Subtitle 6 - Postsecondary Education — Financial Assistance Programs
Subchapter 14 - Nursing Student Loan Program
§ 6-81-1401. Nursing Student Loan Program funding
§ 6-81-1402. Program established — Administration
§ 6-81-1403. Arkansas State Board of Nursing — Powers and duties
§ 6-81-1404. Eligibility and requirements for loans
§ 6-81-1405. Amount of loans — Maximum
§ 6-81-1408. Written contract required
§ 6-81-1409. Cancellation of principal and interest
§ 6-81-1410. Borrower's loss of good standing — Acceleration of due date