261.73 - CHIROPRACTIC LOAN FORGIVENESS PROGRAM.
261.73 CHIROPRACTIC LOAN FORGIVENESS PROGRAM.
1. A chiropractic loan forgiveness program is established to be
administered by the commission. A chiropractor is eligible for the
program if the chiropractor is a resident of this state, is licensed
to practice under chapter 151, and is engaged in the practice of
chiropractic in this state.
2. Each applicant for loan forgiveness shall, in accordance with
the rules of the commission, do the following:
a. Complete and file an application for chiropractic loan
forgiveness. The individual shall be responsible for the prompt
submission of any information required by the commission.
b. File a new application and submit information as required
by the commission annually on the basis of which the applicant's
eligibility for the renewed loan forgiveness will be evaluated and
determined.
c. Complete and return on a form approved by the commission
an affidavit of practice verifying that the applicant meets the
eligibility requirements of subsection 1.
3. The annual amount of chiropractic loan forgiveness shall not
exceed the resident tuition rate established for institutions of
higher learning governed by the state board of regents for the first
year following the chiropractor's graduation from a college of
chiropractic approved by the board of chiropractic in accordance with
section 151.4, or twenty percent of the chiropractor's total
federally guaranteed Stafford loan amount under the federal family
education loan program or the federal direct loan program, including
principal and interest, whichever amount is less. A chiropractor
shall be eligible for the loan forgiveness program for not more than
five consecutive years.
4. A chiropractic loan forgiveness repayment fund is created for
deposit of moneys appropriated to or received by the commission for
use under the program. Notwithstanding section 8.33, moneys
deposited in the fund shall not revert to any fund of the state at
the end of any fiscal year but shall remain in the chiropractic loan
forgiveness repayment fund and be continuously available for loan
forgiveness under the program. Notwithstanding section 12C.7,
subsection 2, interest or earnings on moneys deposited in the fund
shall be credited to the fund.
5. The commission shall adopt rules pursuant to chapter 17A to
administer this section. Section History: Recent Form
2008 Acts, ch 1181, §34
Referred to in § 261.2