Sec. 487.109. LOAN FORGIVENESS. (a) The principal balance and interest for one year of a forgivable loan awarded to an outstanding rural scholar must be forgiven for each year the scholar practices as a health care professional in the sponsoring community.
(b) The sponsoring community shall report to the department the length of time the scholar practices as a health care professional in the community.
(c) If the department finds that a sponsoring community is not in need of the scholar's services and that the community is willing to forgive repayment of the principal balance and interest of the scholar's loan, the department by rule may provide for the principal balance and interest of one year of the scholar's loan to be forgiven for each year the scholar practices in another rural community in this state.
(d) Any amount of loan principal or interest that is not forgiven under this section shall be repaid to the department with reasonable collection fees in a timely manner as provided by department rule.
Added by Acts 2001, 77th Leg., ch. 1424, Sec. 1, eff. Sept. 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1241 (H.B. 2542), Sec. 21, eff. June 15, 2007.
Acts 2009, 81st Leg., R.S., Ch. 112 (H.B. 1918), Sec. 34, eff. September 1, 2009.
Acts 2013, 83rd Leg., R.S., Ch. 148 (H.B. 1493), Sec. 12, eff. September 1, 2013.
Structure Texas Statutes
Subtitle F - Commerce and Industrial Development
Chapter 487 - Office of Rural Affairs in Department of Agriculture
Subchapter D. Outstanding Rural Scholar Recognition and Loan Program for Rural Health Care
Section 487.102. Administration
Section 487.103. Selection Committee
Section 487.104. Selection of Outstanding Rural Scholars
Section 487.105. Eligibility for Outstanding Rural Scholar Competition
Section 487.106. Eligibility for Loans; Rural Community Financial Support
Section 487.107. Awarding of Loans
Section 487.108. Amount of Loan
Section 487.109. Loan Forgiveness
Section 487.111. Postsecondary Educational Institutions; Monitoring