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(a) The maximum amount of each rural practice loan for medical students shall not exceed sixteen thousand five hundred dollars ($ 16,500) per academic year or those costs that are reasonable and necessary for the student’s attendance as determined by the Arkansas Rural Medical Practice Student Loan and Scholarship Board.
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(b)
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(1) The maximum amount of each community match income incentive shall not exceed eighty thousand dollars ($80,000) or as the board otherwise shall determine payable under § 6-81-716.
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(2) The Arkansas Rural Medical Practice Student Loan and Scholarship Board shall provide one-half (½) of the community match income incentive, and the qualified rural community shall provide the other one-half (½) of the income incentive.
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(3) However, if the board does not have sufficient funds to match the community’s portion of the income incentive, nothing precludes a qualified rural community from providing the total income incentive amount.
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