161.424. Recipients of scholarships to teach in this state--terms, conditions--deferral of payments. - Missouri Statutes

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Recipients of scholarships to teach in this state--terms,conditions--deferral of payments.

161.424. 1. Every student receiving scholarships under theprovisions of sections 161.415 to 161.424 shall teach in anelementary or secondary public school in this state for a periodof five years after receiving a degree or the scholarship shallbe treated as a loan to the student and interest at the rate ofnine and one-half percent per year shall be charged upon theunpaid balance of the amount received from the date the studentceases to teach until the amount received is paid back to thestate. For each year that the student teaches up to five years,one-fifth of the amount which was received under sections 161.415to 161.424 shall be applied against the total amount received andshall not be subject to the repayment requirement of thissection.

2. The state board of education shall have the power to andshall defer interest and principal payments under certaincircumstances, which shall include, but need not be limited to,the enrollment in a graduate program, service in any branch ofthe armed forces of the United States, or teaching in areas ofcritical need as defined by the state board.

(L. 1990 H.B. 1142 § 7)

State Codes and Statutes

Statutes > Missouri > T11 > C161 > 161_424

Recipients of scholarships to teach in this state--terms,conditions--deferral of payments.

161.424. 1. Every student receiving scholarships under theprovisions of sections 161.415 to 161.424 shall teach in anelementary or secondary public school in this state for a periodof five years after receiving a degree or the scholarship shallbe treated as a loan to the student and interest at the rate ofnine and one-half percent per year shall be charged upon theunpaid balance of the amount received from the date the studentceases to teach until the amount received is paid back to thestate. For each year that the student teaches up to five years,one-fifth of the amount which was received under sections 161.415to 161.424 shall be applied against the total amount received andshall not be subject to the repayment requirement of thissection.

2. The state board of education shall have the power to andshall defer interest and principal payments under certaincircumstances, which shall include, but need not be limited to,the enrollment in a graduate program, service in any branch ofthe armed forces of the United States, or teaching in areas ofcritical need as defined by the state board.

(L. 1990 H.B. 1142 § 7)

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State Codes and Statutes

Statutes > Missouri > T11 > C161 > 161_424

Recipients of scholarships to teach in this state--terms,conditions--deferral of payments.

161.424. 1. Every student receiving scholarships under theprovisions of sections 161.415 to 161.424 shall teach in anelementary or secondary public school in this state for a periodof five years after receiving a degree or the scholarship shallbe treated as a loan to the student and interest at the rate ofnine and one-half percent per year shall be charged upon theunpaid balance of the amount received from the date the studentceases to teach until the amount received is paid back to thestate. For each year that the student teaches up to five years,one-fifth of the amount which was received under sections 161.415to 161.424 shall be applied against the total amount received andshall not be subject to the repayment requirement of thissection.

2. The state board of education shall have the power to andshall defer interest and principal payments under certaincircumstances, which shall include, but need not be limited to,the enrollment in a graduate program, service in any branch ofthe armed forces of the United States, or teaching in areas ofcritical need as defined by the state board.

(L. 1990 H.B. 1142 § 7)