§ 16-41-5 - Repayment of loans.
SECTION 16-41-5
§ 16-41-5 Repayment of loans. – (a) Dental, medical, optometry, osteopathic, and veterinary medical studentsthat attend schools under the Rhode Island health professions contract programwhich are supported by funds from the state may decrease their indebtedness tothe state under the following options:
(1) Upon completion of his or her dental, medical, optometry,osteopathic, or veterinary training, including internship and residencytraining, a student who establishes residency in the state will be relieved offifteen percent (15%) of that indebtedness per year for each year that thestudent is employed by the state in a full time capacity for a maximumcancellation of seventy-five percent (75%) for five (5) years of employment.
(2) Any graduate who establishes residency in the state willbe relieved of ten percent (10%) of that indebtedness per year for each yearthat he or she practices dentistry, medicine, optometry, osteopathy, orveterinary medicine in the state in a full time capacity for a maximumcancellation of fifty percent (50%) for five (5) years of practice.
(b) In no event shall any student's cancellation ofindebtedness under subsection (a) exceed seventy-five percent (75%).
(c) In no event shall any student be entitled to a refund ofany sums paid on his or her indebtedness by virtue of the provisions of thissection.
(d) The authority shall promulgate rules and regulationswhich are necessary and proper to promote the full implementation of thissection.