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6-81-1704. Loan contract — Forgiveness.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-1704. Loan contract — Forgiveness.
(a) An individual who receives a loan under this subchapter shall execute a written loan contract with the Division of Higher Education for the repayment of the loan as provided in this subchapter.
(b) A loan contract executed under subsection (a) of this section shall provide that the total amount of the loans awarded to the individual under this subchapter, plus accrued interest, shall be forgiven at the rate of twenty percent (20%) per year for each year that the individual teaches in a school or school district located in a geographic area identified by the Division of Elementary and Secondary Education under § 6-15-403 [repealed] as a critical teacher shortage area.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-1704
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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Record provenance
Stable record: arkansas_code:legal_authorities:6-81-1704
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: d0c9aceb04079527abfa3f2c1a1b6475aa74bb7f0db505c8126adff104626b90
Source location: content.xml paragraph 43849
Stored source content
6-81-1704. Loan contract — Forgiveness.
(a) An individual who receives a loan under this subchapter shall execute a written loan contract with the Division of Higher Education for the repayment of the loan as provided in this subchapter.
(b) A loan contract executed under subsection (a) of this section shall provide that the total amount of the loans awarded to the individual under this subchapter, plus accrued interest, shall be forgiven at the rate of twenty percent (20%) per year for each year that the individual teaches in a school or school district located in a geographic area identified by the Division of Elementary and Secondary Education under § 6-15-403 [repealed] as a critical teacher shortage area.
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