Sec. 487.159. LOAN FORGIVENESS. (a) A loan recipient shall be forgiven the principal and interest of one year's loan for each year the recipient practices as a health care professional providing health care services in the sponsoring community, but only if the loan recipient practices as a health care professional providing health care services in the sponsoring community or in another qualified area under Subsection (b) for a minimum of two years.
(b) If the department finds that a sponsoring community is not in need of the student's services and that the community is willing to forgive repayment of the principal balance and interest of the student's loan, the department by rule may provide for the principal balance and interest of the student's loan to be forgiven if the student provides services in another qualified area in this state.
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. 28, eff. June 15, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 148 (H.B. 1493), Sec. 20, eff. September 1, 2013.
Structure Texas Statutes
Subtitle F - Commerce and Industrial Development
Chapter 487 - Office of Rural Affairs in Department of Agriculture
Subchapter E. Health Careers Promotion and Education Program
Section 487.152. Administration
Section 487.153. Health Careers Promotion
Section 487.155. Student Eligibility
Section 487.156. Community Eligibility
Section 487.157. Amount of Loan
Section 487.158. Required Contract
Section 487.159. Loan Forgiveness
Section 487.161. Reporting; Monitoring