topleft CSBA.org >  Services >  Governance Technology > 

Legal Resources | Education Code |  EC  70123  

State Nursing Assumption Program of Loans for Education; Employees of State Facilities   

arrow Previous bar Next arrow

The terms of a loan assumption granted under this article shall be as follows, subject to the specific terms of each agreement:

(a) After a program participant has completed one year of full-time employment as described in subdivision (b) of Section 70122, the commission shall assume up to five thousand dollars ($5,000) of the participant's outstanding liability under one or more of the designated loan programs.

(b) After a program participant has completed two years of full-time employment as described in subdivision (b) of Section 70122, the commission shall assume up to an additional five thousand dollars ($5,000) of the participant's outstanding liability under one or more of the designated loan programs, for a total loan assumption of up to ten thousand dollars ($10,000).

(c) After a program participant has completed three years of full-time employment as described in subdivision (b) of Section 70122, the commission shall assume up to an additional five thousand dollars ($5,000) of the participant's outstanding liability under one or more of the designated loan programs, for a total loan assumption of up to fifteen thousand dollars ($15,000).

(d) After a program participant has completed four years of full-time employment as described in subdivision (b) of Section 70122, the commission shall assume up to an additional five thousand dollars ($5,000) of the participant's outstanding liability under one or more of the designated loan programs, for a total loan assumption of up to twenty thousand dollars ($20,000).

(Added by Stats. 2006, Ch. 837, Sec. 17.)

Reference:

Education Code 70122