173.790. 1. The board shall enter into a contract with eachindividual qualifying for participation in the program at the time theindividual declares a major or decides on a course of study, if a major isnot declared at the institution at which the individual is enrolled. Thewritten contract shall contain, but not be limited to, the following:
(1) The terms and conditions under which the loan is made, and therequirements for repayment of the* loan by the student;
(2) A stipulation that, the provisions of section 143.811, RSMo, tothe contrary notwithstanding, no interest shall be assessed on any loanprovided through the program while the student is enrolled full time, orenrolled part-time with the approval of the board, and meets theeligibility requirements pursuant to section 173.778;
(3) The terms and conditions for qualifying for forgiveness of loanproceeds received through the program;
(4) A provision that any financial obligations arising out of acontract entered into, and any obligations of the individual which areconditioned thereon, are contingent upon funds being appropriated to thefund and on the availability of a targeted high demand job; and
(5) The amount of any penalties assessed, in the event repayment ofthe loan by the student is not made in accordance with the contract, or thestudent fails to maintain eligibility or other requirements of the program.All such penalties shall be deposited in the fund.
2. Sections 173.775 to 173.796 shall not be construed to require theboard to enter into contracts with individuals who otherwise qualify forthe program when funds are not available for such purpose.
173.790. 1. The board shall enter into a contract with eachindividual qualifying for participation in the program at the time theindividual declares a major or decides on a course of study, if a major isnot declared at the institution at which the individual is enrolled. Thewritten contract shall contain, but not be limited to, the following:
(1) The terms and conditions under which the loan is made, and therequirements for repayment of the* loan by the student;
(2) A stipulation that, the provisions of section 143.811, RSMo, tothe contrary notwithstanding, no interest shall be assessed on any loanprovided through the program while the student is enrolled full time, orenrolled part-time with the approval of the board, and meets theeligibility requirements pursuant to section 173.778;
(3) The terms and conditions for qualifying for forgiveness of loanproceeds received through the program;
(4) A provision that any financial obligations arising out of acontract entered into, and any obligations of the individual which areconditioned thereon, are contingent upon funds being appropriated to thefund and on the availability of a targeted high demand job; and
(5) The amount of any penalties assessed, in the event repayment ofthe loan by the student is not made in accordance with the contract, or thestudent fails to maintain eligibility or other requirements of the program.All such penalties shall be deposited in the fund.
2. Sections 173.775 to 173.796 shall not be construed to require theboard to enter into contracts with individuals who otherwise qualify forthe program when funds are not available for such purpose.
173.790. 1. The board shall enter into a contract with eachindividual qualifying for participation in the program at the time theindividual declares a major or decides on a course of study, if a major isnot declared at the institution at which the individual is enrolled. Thewritten contract shall contain, but not be limited to, the following:
(1) The terms and conditions under which the loan is made, and therequirements for repayment of the* loan by the student;
(2) A stipulation that, the provisions of section 143.811, RSMo, tothe contrary notwithstanding, no interest shall be assessed on any loanprovided through the program while the student is enrolled full time, orenrolled part-time with the approval of the board, and meets theeligibility requirements pursuant to section 173.778;
(3) The terms and conditions for qualifying for forgiveness of loanproceeds received through the program;
(4) A provision that any financial obligations arising out of acontract entered into, and any obligations of the individual which areconditioned thereon, are contingent upon funds being appropriated to thefund and on the availability of a targeted high demand job; and
(5) The amount of any penalties assessed, in the event repayment ofthe loan by the student is not made in accordance with the contract, or thestudent fails to maintain eligibility or other requirements of the program.All such penalties shall be deposited in the fund.
2. Sections 173.775 to 173.796 shall not be construed to require theboard to enter into contracts with individuals who otherwise qualify forthe program when funds are not available for such purpose.
