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6-81-1705. Repayment — Deferment.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-81-1705. Repayment — Deferment.
(a) An individual who receives a loan under this subchapter shall immediately begin repayment of each loan the individual received, together with interest as determined by the Division of Higher Education, if the individual:
(1) Ceases to be enrolled in good standing at an institution of higher education in this state, unless the individual has graduated and received a degree;
(2) Does not obtain licensure as a teacher from the State Board of Education within one (1) year of graduating and receiving a degree;
(3) Does not begin work as a licensed teacher in the academic year immediately following becoming licensed;
(4) Does not teach 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located in a geographic area identified by the Division of Elementary and Secondary Education under § 6-15-403 [repealed] as a critical teacher shortage area in the individual's first year as a licensed teacher; or
(5)(A) Does not teach 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located in a geographic area identified by the Division of Elementary and Secondary Education under § 6-15-403 [repealed] as a critical teacher shortage area for five (5) consecutive years beginning immediately upon obtaining licensure.
(B) The total amount of the loans awarded to an individual that are subject to repayment under subdivision (a)(5)(A) of this section shall be reduced on a pro rata basis as required under § 6-81-1704(b).
(b)(1) The Division of Higher Education may defer the requirements under subdivisions (a)(3)-(5) of this section if the Division of Higher Education, in consultation with the Division of Elementary and Secondary Education, determines that there was no employment position available that would reasonably enable the individual to meet the requirements.
(2) After the
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-81-1705
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:6-81-1705
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 29d954f5d186688c7fb3aef84f2d9bc7873191b980194d449c32191ef0c12162
Source location: content.xml paragraph 43858
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6-81-1705. Repayment — Deferment.
(a) An individual who receives a loan under this subchapter shall immediately begin repayment of each loan the individual received, together with interest as determined by the Division of Higher Education, if the individual:
(1) Ceases to be enrolled in good standing at an institution of higher education in this state, unless the individual has graduated and received a degree;
(2) Does not obtain licensure as a teacher from the State Board of Education within one (1) year of graduating and receiving a degree;
(3) Does not begin work as a licensed teacher in the academic year immediately following becoming licensed;
(4) Does not teach 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 in the individual's first year as a licensed teacher; or
(5)(A) Does not teach 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 for five (5) consecutive years beginning immediately upon obtaining licensure.
(B) The total amount of the loans awarded to an individual that are subject to repayment under subdivision (a)(5)(A) of this section shall be reduced on a pro rata basis as required under § 6-81-1704(b).
(b)(1) The Division of Higher Education may defer the requirements under subdivisions (a)(3)-(5) of this section if the Division of Higher Education, in consultation with the Division of Elementary and Secondary Education, determines that there was no employment position available that would reasonably enable the individual to meet the requirements.
(2) After the period of deferral, the individual shall begin or resume teaching 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 or become subject to repayment under subsection (a) of this section.
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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. The source passage cites 6-81-1704. This identifies an authority to review, not proof of applicability.