OAR 575-073-0040
Terms of Agreement
(1)
For each year of nursing school, the applicant shall designate an amount from the student loans borrowed by the student, not to exceed $8,800, or the amount determined under section (4) of this rule, as a qualifying loan subject to repayment through this program.(2)
Within the four years following the execution of a Nursing Services Agreement, a participant agrees to practice for at least two years in a nursing critical shortage area in Oregon.(3)
For not less than two, nor more than four years, that a participant in the Nursing Services Program serves in a nursing critical shortage area in Oregon, the Commission shall annually pay:(a)
For full-time practice, an amount equal to 25 percent of the total of all qualifying loans made to the nurse.(b)
For part-time practice, a prorated amount equal to between 12.5 percent and 24 percent of the total of all qualifying loans made to the participant.(4)
On July 1 of each year, beginning in 2002 and ending in 2007, the Commission shall adjust the maximum dollar amount allowed under section (1) of this rule as a qualifying loan as specified in ORS 348.115.
Source:
Rule 575-073-0040 — Terms of Agreement, https://secure.sos.state.or.us/oard/view.action?ruleNumber=575-073-0040.