(a)Students desiring to participate in the University of
Wyoming's accelerated program leading to a baccalaureate degree
in nursing may avail themselves of the financial aid
opportunities under this section subject to the following:
(i)Before enrolling in the accelerated baccalaureate
in nursing degree program, the student shall be approved by the
president of the university acting with the advice of the state
board of nursing;
(ii)No student shall be approved by the president
unless the student has obtained a baccalaureate degree in a
discipline other than nursing;
(iii)Preference for financial aid under this section
shall be given to applicants who individually or through their
spouse meet the requirements of W.S. 21-17-105(d).
(b)In addition to the requirements of subsection (a),
b
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(a) Students desiring to participate in the University of
Wyoming's accelerated program leading to a baccalaureate degree
in nursing may avail themselves of the financial aid
opportunities under this section subject to the following:
(i) Before enrolling in the accelerated baccalaureate
in nursing degree program, the student shall be approved by the
president of the university acting with the advice of the state
board of nursing;
(ii) No student shall be approved by the president
unless the student has obtained a baccalaureate degree in a
discipline other than nursing;
(iii) Preference for financial aid under this section
shall be given to applicants who individually or through their
spouse meet the requirements of W.S. 21-17-105(d).
(b) In addition to the requirements of subsection (a),
before granting any financial aid under this section the board
of trustees shall obtain an agreement from each student whereby
the student authorizes the state of Wyoming to pay not more than
twenty-five thousand dollars ($25,000.00) for financial aid
while the student is enrolled in the accelerated nursing degree
program. The student shall agree either to:
(i) Actively engage in work as a nurse in Wyoming for
two (2) years, as the board of trustees requires. Qualified work
shall be granted on a proportional basis; or
(ii) Repay all amounts expended by the state of
Wyoming under this subsection on the student's education,
together with interest which shall begin accruing upon the
student's graduation, upon terms specified by the board of
trustees. However, interest shall begin to accrue if the board
finds that the student has withdrawn from the degree program or
is otherwise not making satisfactory progress toward completion
of the degree program. Money expended under this subsection
shall accrue at an annual interest rate equal to that charged
for federal Stafford loans at the time interest begins to
accrue, which rate shall be adjusted annually to match the
federal Stafford loan rate. In no event shall the interest rate
be greater than eight percent (8%).
(c) Upon recommendation of the president of the
university, the board of trustees may relieve a student of the
obligation to repay amounts expended under subsection (b) of
this section, in whole or in part, upon a finding that the
monies cannot be collected. The university shall annually report
the number of students relieved from repayment under this
subsection to the joint labor, health and social services
interim committee not later than October 1.
(d) Loan repayment options under this section may be
deferred for a period not to exceed five (5) years while a loan
recipient is serving on full-time active duty with any branch of
the uniformed services of the United States as defined in W.S.
8-1-102(a)(xxii).
(e) Any recipient of a loan under this section who fails:
(i) To complete the program for which the loan was
provided shall commence cash repayment of the loan no later than
forty-five (45) days after the recipient leaves the academic
program;
(ii) To obtain employment in the targeted occupation
for which the person received the education within ninety (90)
days after successfully obtaining the appropriate licensure,
shall commence cash repayment of the loan within one hundred
twenty (120) days after successfully obtaining the appropriate
licensure; or
(iii) To obtain the appropriate certification within
one hundred eighty (180) days after completion of the program
shall commence cash repayment of the loan.
(f) Any amounts paid by students in accordance with the
contractual arrangements authorized under this section shall be
deposited into a special account designated as the accelerated
baccalaureate degree in nursing student account, maintained and
separately accounted for by the University of Wyoming, which
account shall be used solely for payments on behalf of students
under subsection (b) of this section. On or before October 1 of
each year, the university shall submit a report to the joint
labor, health and social services interim committee on
expenditures from the account during the prior fiscal year.