Current through Register Vol. 50, No. 9, September 20, 2024
A. The
loan obligation for awards received through the 2009-2010 academic year may be
discharged by graduation in an eligible major, monetary repayment or
cancellation.
B. Graduation in an
Eligible Major. Awards to undergraduates are discharged by the recipient's
attainment of a bachelor's degree; graduate awards are discharged by attainment
of a master's or doctorate degree in wildlife, forestry or marine
science.
C. Monetary Repayment.
Recipients who do not discharge the obligation by graduating in an eligible
major and who are not eligible for discharge by cancellation must repay the
loan principal, plus accrued interest and any collection costs incurred in
accordance with the following terms and conditions:
1. interest accrues on the outstanding
principal at the rate of eight percent per annum;
2. interest on each disbursement will accrue
from the date of entering repayment status until repaid, canceled or
fulfilled;
3. repayment status. The
recipient enters repayment status the first day of the month following:
a. the date the recipient notifies the board
that monetary repayment is desired; or
b. six months after the board determines that
the recipient is no longer pursuing a degree program or course of study leading
to a degree in wildlife, forestry or marine science;
4. unless the recipient qualifies for reduced
payments as provided in
§2105 H, the annual repayment amount will
be the greater of:
a. the amount necessary to
repay the capitalized loan principal within seven years; or
b. $1,200 per year or the unpaid balance,
whichever is less;
5.
recipients in repayment status may have their payments deferred in accordance
with §2105 B, titled
deferment of repayment obligation;
a. during
the period of time a recipient is in deferment status, the recipient is not
required to make payments and interest does not accrue;
b. the period of time for completion of
repayment will be extended by a period of time equal to the length of time the
recipient is in deferment status.
D. Cancellation
1. The obligation to repay all or part of
Rockefeller State Wildlife Scholarship Program funds shall be canceled in the
event either of the following occurs:
a. upon
submission to the board of a sworn affidavit from a qualified physician that
the recipient is precluded from completing the educational program and/or from
gainful employment because of a complete and permanent medical disability or
condition;
b. upon submission to
the board of a death certificate, or other evidence conclusive under state law,
that the recipient is deceased.
2. The obligation to repay all or part of
Rockefeller State Wildlife Scholarship Program funds may be canceled in the
event the remaining unpaid balance is $25 or less.
AUTHORITY NOTE:
Promulgated in accordance with
R.S.
17:3021-3031 and
56:797(D)(2).
