New Mexico Administrative Code
Title 5 - POST-SECONDARY EDUCATION
Chapter 7 - TUITION AND FINANCIAL AID
Part 3 - NEW MEXICO HEALTH PROFESSIONAL LOAN REPAYMENT PROGRAM (HPLRP)
Section 5.7.3.12 - PENALTIES
Current through Register Vol. 35, No. 18, September 24, 2024
A. If a program participant does not comply with the terms of the participation agreement, the department shall assess a penalty of up to three times the amount of award disbursed, plus eighteen percent interest, unless the commission finds acceptable extenuating circumstances for why the participant could not serve and comply with the terms of the provisions. If the commission does not find acceptable extenuating circumstances for the participant's failure to comply, the commission shall require immediate repayment plus the amount of any penalty assessed pursuant to this section.
B. Participants who have signed a participation agreement for three years and fail to complete a quarter of service will not receive a prorated award amount.