42 USC 297o - Eligible individual student loan repayment

U.S Code last checked for updates: Nov 22, 2024

§ 297o.

Eligible individual student loan repayment

(a)

In general

(b)

Agreements

Each agreement entered into under this subsection shall require that the eligible individual shall serve as a full-time member of the faculty of an accredited school of nursing, for a total period, in the aggregate, of at least 4 years during the 6-year period beginning on the later of—

(1)

the date on which the individual receives a master’s or doctorate nursing degree from an accredited school of nursing; or

(2)

the date on which the individual enters into an agreement under this subsection.

(c)

Agreement provisions

Agreements entered into pursuant to subsection (b) shall be entered into on such terms and conditions as the Secretary may determine, except that—

(1)

not more than 10 months after the date on which the 6-year period described under subsection (b) begins, but in no case before the individual starts as a full-time member of the faculty of an accredited school of nursing 1

 So in original. Probably should be followed by a comma.

the Secretary shall begin making payments, for and on behalf of that individual, on the outstanding principal of, and interest on, any loan of that individual obtained to pay for such degree;

(2)

for an individual who has completed a master’s in nursing or equivalent degree in nursing—

(A)

payments may not exceed $10,000 per calendar year; and

(B)

total payments may not exceed $40,000 during the 2010 and 2011 fiscal years (after fiscal year 2011, such amounts shall be adjusted to provide for a cost-of-attendance increase for the yearly loan rate and the aggregate loan); and

(3)

for an individual who has completed a doctorate or equivalent degree in nursing—

(A)

payments may not exceed $20,000 per calendar year; and

(B)

total payments may not exceed $80,000 during the 2010 and 2011 fiscal years (adjusted for subsequent fiscal years as provided for in the same manner as in paragraph (2)(B)).

(d)

Breach of agreement

(1)

In general

(2)

Waiver or suspension of liability

(3)

Date certain for recovery

(4)

Availability

(e)

Eligible individual defined

For purposes of this section, the term “eligible individual” means an individual who—

(1)

is a United States citizen, national, or lawful permanent resident;

(2)

holds an unencumbered license as a registered nurse; and

(3)

has either already completed a master’s or doctorate nursing program at an accredited school of nursing or is currently enrolled on a full-time or part-time basis in such a program.

(f)

Priority

(July 1, 1944, ch. 373, title VIII, § 847, as added Pub. L. 111–148, title V, § 5311(b), Mar. 23, 2010, 124 Stat. 632; amended Pub. L. 116–136, div. A, title III, § 3404(a)(10), Mar. 27, 2020, 134 Stat. 394.)

cite as: 42 USC 297o