261.71 - CHIROPRACTIC GRADUATE STUDENT FORGIVABLE LOANS.
261.71 CHIROPRACTIC GRADUATE STUDENT FORGIVABLE
LOANS.
1. A chiropractic graduate student forgivable loan program is
established, to be administered by the college student aid commission
for resident graduate students who are enrolled at Iowa chiropractic
colleges and universities. A resident graduate student attending an
Iowa chiropractic college or university is eligible for loan
forgiveness under the program if the student meets all of the
following conditions:
a. The student graduates from an Iowa chiropractic college or
university that meets the requirements for approval under section
151.4.
b. The student has completed a chiropractic residency
program.
c. The student agrees to practice in an underserved area in
the state of Iowa for a period of time to be determined by the
commission at the time the loan is awarded.
d. The student has received a loan from moneys appropriated
to the college student aid commission for this program.
2. The contract for the loan repayment shall stipulate the time
period the chiropractor shall practice in an underserved area in this
state. In addition, the contract shall stipulate that the
chiropractor repay any funds paid on the chiropractor's loan by the
commission if the chiropractor fails to practice in an underserved
area in this state for the required period of time. Forgivable loans
made to eligible students shall not become due, for repayment
purposes, until one year after the student has graduated. A loan
that has not been forgiven may be sold to a bank, savings and loan
association, credit union, or nonprofit agency eligible to
participate in the guaranteed student loan program under the federal
Higher Education Act of 1965, 20 U.S.C. § 1071 et seq., by the
commission when the loan becomes due for repayment.
3. For purposes of this section "graduate student" means a
student who has completed at least ninety semester hours, or the
trimester or quarter equivalent, of postsecondary course work at a
public higher education institution or at an accredited private
institution, as defined under section 261.9. "Underserved area"
means a geographical area included on the Iowa governor's health
practitioner shortage area list, which is compiled by the center for
rural health and primary care of the Iowa department of public
health. The commission shall adopt rules, consistent with rules used
for students enrolled in higher education institutions under the
control of the state board of regents, for purposes of determining
Iowa residency status of graduate students under this section. The
commission shall also adopt rules which provide standards,
guidelines, and procedures for the receipt, processing, and
administration of student applications and loans under this section.
Section History: Recent Form
95 Acts, ch 218, § 23; 96 Acts, ch 1158, § 2, 3; 99 Acts, ch 205,
§38, 39