Arkansas § 6-81-1704 Loan contract - Forgiveness

Arkansas Statutes

§ 6-81-1704 — Loan contract - Forgiveness

Arkansas § 6-81-1704

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This text of Arkansas § 6-81-1704 (Loan contract - Forgiveness) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 6-81-1704 (2026).

Text

(a)An individual who receives a loan under this subchapter shall execute a written loan contract with the Division of Higher Education for the repayment of the loan as provided in this subchapter.

(b)A loan contract executed under subsection (a) of this section shall provide that the total amount of the loans awarded to the individual under this subchapter, plus accrued interest, shall be forgiven at the rate of twenty percent (20%) per year for each year that the individual teaches in a school or school district located in a geographic area identified by the Division of Elementary and Secondary Education under § 6-15-403 [repealed] as a critical teacher shortage area.

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(a) An individual who receives a loan under this subchapter shall execute a written loan contract with the Division of Higher Education for the repayment of the loan as provided in this subchapter. (b) A loan contract executed under subsection (a) of this section shall provide that the total amount of the loans awarded to the individual under this subchapter, plus accrued interest, shall be forgiven at the rate of twenty percent (20%) per year for each year that the individual teaches in a school or school district located in a geographic area identified by the Division of Elementary and Secondary Education under § 6-15-403 [repealed] as a critical teacher shortage area.