42 U.S.C. § 297o: Eligible individual student loan repayment

The Secretary, acting through the Administrator of the Health Resources and Services Administration, may enter into an agreement with eligible individuals for the repayment of education loans, in accordance with this section, to increase the number of qualified nursing faculty. the date on which the individual receives a master’s or doctorate nursing degree from an accredited school of nursing; or the date on which the individual enters into an agreement under this subsection. 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 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; 1 So in original. Probably should be followed by a comma. payments may not exceed $10,000 per calendar year; and 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 payments may not exceed $20,000 per calendar year; and 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)). In the case of any agreement made under subsection (b), the individual is liable to the Federal Government for the total amount paid by the Secretary under such agreement, and for interest on such amount at the maximum legal prevailing rate, if the individual fails to meet the agreement terms required under such subsection. In the case of an individual making an agreement for purposes of paragraph (1), the Secretary shall provide for the waiver or suspension of liability under such paragraph if compliance by the individual with the agreement involved is impossible or would involve extreme hardship to the individual or if enforcement of the agreement with respect to the individual would be unconscionable. Subject to paragraph (2), any amount that the Federal Government is entitled to recover under paragraph (1) shall be paid to the United States not later than the expiration of the 3-year period beginning on the date the United States becomes so entitled. Amounts recovered under paragraph (1) shall be available to the Secretary for making loan repayments under this section and shall remain available for such purpose until expended. is a United States citizen, national, or lawful permanent resident; holds an unencumbered license as a registered nurse; and 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. For the purposes of this section and section 297n–1 of this title , funding priority will be awarded to School of Nursing Student Loans 2 that support doctoral nursing students or Individual Student Loan Repayment 2 So in original. Probably should not be capitalized. 3 that support doctoral nursing students. 3 So in original. Probably should be “individual student loan repayments”.