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House Journal: Page 991: Thursday, March 26, 1998

14   subsection, the recipient is not required to commence
15   repayment during that school year and at the end of
16   that school year the remaining principal amount of the
17   loan, and any interest accruing on the principal
18   amount of the loan, are canceled.
19     3.  The interest rate on the loan shall be equal to
20   the interest rate collected by an eligible lender
21   under the Iowa guaranteed student loan program for the
22   year in which the loan is made.
23     4.  The commission shall prescribe by rule the
24   terms of repayment.  The commission shall set a final
25   date for submission of applications each year and
26   shall review the applications and inform the
27   recipients within a reasonable time after the
28   deadline.
29     5.  The maximum loan a student is eligible to
30   receive annually is an amount equal to the tuition
31   rate established by institutions of higher learning
32   under the control of the state board of regents as
33   follows:
34     a.  The annual resident undergraduate tuition rate
35   if the individual is enrolled in an approved
36   undergraduate practitioner preparation program.
37     b.  The annual resident graduate tuition rate if
38   the individual is enrolled in an approved graduate
39   practitioner preparation program.
40     6.  Eligible students may receive both a tuition
41   grant under this chapter and a practitioner shortage
42   loan.
43     7.  A practitioner shortage loan payment fund is
44   established in the office of the treasurer of state
45   for deposit of payments made by loan recipients who do
46   not fulfill the cancellation conditions of the loan
47   program.  Payments made by recipients on the loans
48   shall be used to supplement moneys appropriated to the
49   practitioner shortage loan payment program.
50   Notwithstanding section 8.33, moneys deposited in the

Page 3

 1   practitioner shortage loan payment fund shall not
 2   revert to the general fund of the state at the end of
 3   a fiscal year, but shall remain in the practitioner
 4   shortage loan payment fund and be continuously
 5   available to make additional loans under the program."
 6     3.  By renumbering as necessary.
Rants of Woodbury rose on a point of order that amendment
H-8651, to amendment H-8616,  was not germane.
The Speaker ruled the point well taken and amendment H-8651 not
germane.

© 1998 Cornell College and League of Women Voters of Iowa

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