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43 the quality of the jobs in the occupational shortage 44 area. In rating the quality of the jobs, the council 45 shall place greater emphasis on those jobs that have a 46 higher wage scale, have a lower turnover rate, are 47 full-time or career-type positions, provide 48 comprehensive health benefits, or have factors 49 associated with them that are indicative of jobs 50 higher in quality than jobs in other occupational Page 2 1 shortage areas. 2 3. Each applicant shall, in accordance with the 3 rules of the commission, do the following: 4 a. Complete and file an application, on forms 5 provided by the commission, for an Iowa worker 6 retraining forgivable loan. The individual shall be 7 responsible for the submission of the financial 8 information required for evaluation of the applicant's 9 need for a forgivable loan, on forms determined by the 10 commission. 11 b. File a new application and financial 12 information annually on the basis of which the 13 applicant's eligibility for a renewed forgivable loan 14 will be evaluated and determined. 15 4. Forgivable loans to eligible students shall not 16 become due until after the student graduates or leaves 17 school. The individual's total loan amount, including 18 principal and interest, shall be reduced by twenty- 19 five percent for each year in which the individual 20 remains an Iowa resident and is employed in Iowa in 21 the skill shortage area for which the loan was 22 approved. If the commission determines that the 23 person does not meet the criteria for forgiveness of 24 the principal and interest payments, the commission 25 shall establish a plan for repayment of the principal 26 and interest over a five-year period. If a person 27 required to make the repayment does not make the 28 required payments, the commission shall provide for 29 payment collection. 30 5. The amount of an Iowa worker retraining 31 forgivable loan shall not exceed one thousand five 32 hundred dollars annually, or the amount of the 33 student's established financial need, whichever is 34 less. However, if the loan amount approved by the 35 commission exceeds the student's expenses for tuition, 36 room and board, and mandatory fees, the balance shall 37 be distributed to the student for whom the loan was 38 made. However, the commission may exceed the maximum 39 loan amount based upon the demand for loans or an 40 extraordinary demand for trained workers in a skill 41 shortage area.
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