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25-30-206. Arkansas Rehabilitation Services Forgiveness of Student Loan Program.
Arkansas Code — all titles (historical 2020) · legal_authorities
25-30-206. Arkansas Rehabilitation Services Forgiveness of Student Loan Program.
(a) There is established the Arkansas Rehabilitation Services Forgiveness of Student Loan Program to assist counselors employed by Arkansas Rehabilitation Services with the repayment of student loans.
(b)(1) The program shall be administered by Arkansas Rehabilitation Services.
(2) Arkansas Rehabilitation Services shall promulgate rules for determining: a counselor's eligibility for a loan under the program that shall include the following requirements:
(A) Satisfactory completion of any probationary employment period;
(B) Proof of a student loan that remains unpaid, including the name and address of the creditor; and
(C) An executed employment contract in which the counselor agrees to:
(i) Work for Arkansas Rehabilitation Services for a term that equals two (2) years for each year that the program makes a payment on the counselor's student loan; and
(ii) Reimburse the program the full amount of any loan payments made under the program if the counselor resigns or is terminated for cause before the term of the contract terminates.
(3) The amount of the payment to be made directly to the counselor's student loan creditor may not exceed:
(A) Two thousand dollars ($2,000) per year; or
(B) Ten thousand dollars ($10,000) per employee.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-30-206
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:25-30-206
Source file: gov.ar.code.title.25.odt
Pages: Not recorded – Not recorded
Passage SHA-256: feee676db2af728010abe03e8d221bb0adee259216806967472f5e03bd4ea0c1
Source location: content.xml paragraph 10344
Stored source content
25-30-206. Arkansas Rehabilitation Services Forgiveness of Student Loan Program.
(a) There is established the Arkansas Rehabilitation Services Forgiveness of Student Loan Program to assist counselors employed by Arkansas Rehabilitation Services with the repayment of student loans.
(b)(1) The program shall be administered by Arkansas Rehabilitation Services.
(2) Arkansas Rehabilitation Services shall promulgate rules for determining: a counselor's eligibility for a loan under the program that shall include the following requirements:
(A) Satisfactory completion of any probationary employment period;
(B) Proof of a student loan that remains unpaid, including the name and address of the creditor; and
(C) An executed employment contract in which the counselor agrees to:
(i) Work for Arkansas Rehabilitation Services for a term that equals two (2) years for each year that the program makes a payment on the counselor's student loan; and
(ii) Reimburse the program the full amount of any loan payments made under the program if the counselor resigns or is terminated for cause before the term of the contract terminates.
(3) The amount of the payment to be made directly to the counselor's student loan creditor may not exceed:
(A) Two thousand dollars ($2,000) per year; or
(B) Ten thousand dollars ($10,000) per employee.
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