33-3604 DETERMINATION OF COST PER STUDENT -- REPAYMENT -- CANCELLATION OF DEBT WHEN PRACTICING PROFESSION.
EDUCATION
CHAPTER 36
COMPACT FOR COOPERATION IN HIGHER EDUCATION
33-3604. Determination of cost per student -- Repayment -- Cancellation of debt when practicing profession. The Idaho members of the Western Interstate Commission for Higher Education shall annually determine the cost to the state of Idaho of each student attending any out of state institution under the provisions of this chapter.
Each student attending any institution under the provisions of this act shall, by the acceptance of the benefits of this act, become obligated to the state of Idaho for the cost to the state of Idaho for such student, as determined by the Idaho members of the Western Interstate Commission for Higher Education. Such sum or sums, together with interest thereon at the rate of five per cent (5%) per annum from the time of the expenditure by the state of Idaho shall be repaid as follows: one-fourth (1/4) of said sum, together with accrued interest on or before three (3) years from the date such student completes or terminates his education and/or internship and one-fourth (1/4) of such sum with accrued interest on the same date annually thereafter until said sum, together with accrued interest shall have been fully paid. In case any student shall fail to make payment in accordance with the provisions of this section, the total unpaid balance shall become immediately due and payable and shall be recovered by suit brought by the attorney-general on behalf of the state of Idaho; Provided, however, that any student who shall, within three (3) years of completion of his education, engage in the practice of his profession continuously for the period of two (2) years in the state of Idaho, shall not be obligated to repay the cost of his education or any part thereof.