(a) Cash funds for the Nursing Student Loan Program shall consist of: (1) Funds appropriated for the Nursing Student Loan Program; (2) Federal funds; (3) Gifts; (4) Grants; (5) Bequests; (6) Devises; (7) Donations; (8) Moneys received to repay a loan under this subchapter; (9) Interest and other income accruing to or earned by the […]
There is established a Nursing Student Loan Program, to be administered by the Arkansas State Board of Nursing in accordance with the provisions of this subchapter.
(a) The Arkansas State Board of Nursing shall: (1) Prescribe forms to be used in the Nursing Student Loan Program; (2) Regulate the submission of applications for loans; (3) Determine eligibility of applicants; (4) Allow or disallow applications for financial assistance; (5) Contract for, increase, decrease, terminate, and otherwise regulate all loans made under this […]
(a) Any person who is enrolled in or has been accepted for admission to an approved school of nursing in this state or a nationally accredited school outside the state in a course of study leading to qualification as a registered nurse, licensed practical nurse, or nursing educator shall be eligible to make application to […]
(a) The Arkansas State Board of Nursing may make a loan to any applicant in an amount calculated to pay the applicant’s tuition, maintenance, and other education expenses while he or she is enrolled in a program of nursing education as described in this subchapter. (b) The total of the loans made to any one […]
Each loan made to an applicant under this subchapter shall be for one (1) academic year.
(a) Subject to the availability of funds, each loan made to an applicant under this subchapter shall be renewable annually for the number of years required to complete studies leading to qualification as a registered nurse, licensed practical nurse, or nursing educator. (b) Any loan made to an applicant subsequent to an initial loan shall […]
Each recipient of a loan under the provisions of this subchapter shall execute a written loan contract with the Arkansas State Board of Nursing for the repayment of the loan under such terms as are provided in this subchapter and as the board shall prescribe.
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 […]
If the recipient of a loan under this subchapter ceases to be enrolled in good standing in a recognized school of nursing before completing the education requirements to qualify as a registered nurse, licensed practical nurse, or nursing educator, the principal and interest of all loans made under this subchapter to the recipient shall become […]
(a) A recipient of a loan under this subchapter shall repay each loan together with interest at the maximum rate allowed by Arkansas law if the recipient: (1) Ceases to be enrolled in good standing in a recognized school of nursing before completing the education requirements to qualify as a registered nurse, licensed practical nurse, […]
The Arkansas State Board of Nursing shall adopt reasonable rules consistent with this subchapter to effectively and efficiently carry out the purposes of this subchapter.
