Ala. Admin. Code r. 635-X-7-.04 - Due Date Of First Annual Payment
The first annual payment will become due one (1) year after the recipient enters the practice of optometry or three (3) years after graduation from the optometry school, whichever date occurs first. Deferment of the first annual payment past one year after graduation from optometry school must be approved by the Board. Any recipient who fails for any reason to continue his/her optometric education or to begin practicing optometry within one (1) year following completion of optometry school shall repay all loan amounts in accordance with terms and conditions established by the Board, provided that the interest rate on such unpaid loan amounts shall be fixed at six percent (6%) per annum from the date of his/her departure from optometry school.
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Statutory Authority: Code of Ala. 1975, ยงยง 34-22-60, et seq.
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