Section 188-D:18-g Forgivable Loans.
I. Financial assistance in the form of a forgivable loan shall be provided to qualified individuals who are residents of this state and need such assistance to attend education programs approved by the commission. The loans shall be for education in programs given in New Hampshire, which prepare recipients for careers in shortage areas as determined by the commission.
II. Recipients shall be chosen only on the basis of financial need. Each loan recipient shall sign a note to the state treasurer for the amount of each payment. The commission shall require recipients to agree in writing to work in the shortage area for which funds were received in New Hampshire for a specified period following completion of training.
III. Educational institutions which are eligible for receipt of money provided to students under this subdivision shall match funds provided by the state in order to receive such money. The total amount of matching funds shall not exceed any amount provided by the state during each fiscal year. Such matching funds shall be provided in addition to any other sums provided by the state.
IV. The loans shall be paid through the financial aid office of the school in which the recipient is enrolled. The commission shall establish the maximum amount of money to be provided to a student and the frequency of such loans for completion of studies over the course of training, provided that such amount and frequency shall be reasonable.
Source. 2003, 235:1, eff. Sept. 5, 2003.