37-143-13 - Health care professions' loan program.
§ 37-143-13. Health care professions' loan program.
(1) There is established a health care professions' loan program. It is the intent of the Legislature that persons declaring an intention to work at certain state health institutions as nurses, nurse practitioners, speech pathologists, psychologists, occupational therapists and physical therapists, shall be eligible for a loan for the purpose of acquiring an education in such professions. The board of trustees shall enter into contracts with applicants, providing that such loans may be discharged by working as a health care professional in a state health institution, as defined in this section, for a period of time after graduation equal to the period of study provided under the scholarship. Such contracts shall provide that for each year of service, the appropriate portion of the outstanding balance of principal and interest of such loan shall be converted to interest-free scholarships and discharged.
(2) "State health institution" shall mean any of the following: Any facility or program operated by the Department of Mental Health; the State Board of Health; mental health/mental retardation facilities under the administration of a regional commission as established pursuant to Section 41-19-31 which are certified by the Department of Mental Health; and health care facilities under the Department of Corrections.
(3) The board of trustees shall establish rules and regulations as it deems necessary and proper to carry out the purposes and intent of this section.
Sources: Laws, 1991, ch. 547, § 7; Laws, 1992, ch. 365, § 1; Laws, 2001, ch. 388, § 1, eff from and after July 1, 2001.