057-5 Wyo. Code R. §§ 5-6 - Administering Loan Repayment Programs
(a) This Section is
promulgated under authority of
W.S.
21-18-202 and
W.S.
9-2-123 for the Wyoming Investment in Nursing
program, W.S. 21-7-601 for the Teacher
Shortage Loan Repayment program, and
W.S.
21-7-701 for the Wyoming Adjunct Professor
Loan Repayment program, as amended.
(i) The
purpose of the Wyoming Investment in Nursing Program (WYIN program) is to make
funds available to individuals who wish to pursue a career in nursing or nurse
education and to alleviate a shortage of nurses within the state.
(ii) The purpose of the Wyoming Teacher
Shortage Loan Repayment Program (TSLR program) is to make funds available to
students at the University of Wyoming who wish to pursue a career in education
and to alleviate a shortage of teachers in qualified areas of study within the
state as designated by
W.S.
21-7-601.
(iii) The purpose of the Wyoming Adjunct
Professor Loan Repayment Program (WAPLR program) is to make funds available to
public school teachers who require additional coursework in order to qualify as
adjunct instructors under the concurrent enrollment policies of a Wyoming
community college district or the University of Wyoming (UW).
(b) Sections (c) through (g) apply
to all loan repayment programs except as otherwise noted. Section (h) applies
to the WYIN and TSLR programs except as otherwise noted, and section (i)
applies to the WAPLR program.
(c)
Interest
(i) The interest rate shall be the
average prime interest rate plus four percent (4%) computed by the Commission's
financial institution in the same manner as specified under
W.S.
39-16-108(b) for determining
the interest rate on delinquent use taxes. The rate shall be approved by the
Commission by July 1st of every calendar
year.
(ii) Accrual of interest
shall begin upon scheduled commencement of cash repayment.
(d) Loan Terms
(i) Loan origination fees shall be
established by the Commission and deducted from the first disbursement of funds
for payment to the contracted financial institution.
(ii) The student shall sign a master
promissory note as approved by the Commission prior to disbursement to the
student of any funds.
(iii) The
Commission or the contracted financial institution may disclose any delinquency
or default on the student's loan to credit bureaus.
(iv) If the student fails to make a scheduled
repayment, or fails to comply with any other term of the note, the Commission
or the contracted financial institution may refer the student's loan to a
collection agent, initiate legal proceedings against the student, and pursue
judicial remedies.
(v) If the
student fails to make a scheduled repayment or fails to comply with any other
term of the promissory note, the entire unpaid balance of the loan, including
interest due and accrued, and any applicable penalty charges and collection
fees, including attorney fees, will, at the option of the Commission, become
immediately due and payable.
(vi)
The student may prepay all or any part of the principal and accrued interest of
the loan at any time without penalty.
(vii) The student will promptly inform the
Commission or the contracted financial institution of any change in name or
address.
(e) Default of
a Loan.
(i) A loan shall be in default when an
installment is due and not paid in full within 90 days after the time period
provided by these rules.
(ii) The
process for collection of a loan in default shall be determined by the
Commission through its designated financial institution.
(iii) The student in default shall pay any
charges related to offsetting the note or any charges incurred should the
note(s) be referred to an outside collection agency and any other collection
charges, including attorney's fees allowed by state law.
(iv) Loan repayment options under this
section may be deferred for:
(A) A period not
to exceed five (5) years while the student is serving on full time active duty
with any branch of the military services of the United States; or
(B) The length of a graduate program that
qualifies under the WYIN program or the TSLR program if the student begins the
graduate program while still paying the WYIN or TSLR loan by cash or
employment; or
(C) The length of
the undergraduate program for a WYIN or TSLR student who did not complete the
program, but who is readmitted. Interest will not accrue while the student is
enrolled in the program. Upon completion of the program, the current loan
balance will be repaid as specified in section (h)(v) for WYIN and TSLR loans
and section (j)(v) for WAPLR loans.
(v) Students may be granted a delay from
having to repay loans and interest, including interest accrual thereon, in
whole or in part or complete cancellation, including interest accrual thereon,
when the requirement to repay would cause undue hardship, economic or
otherwise. The financial institution responsible for servicing the loans will
use its best judgment in applying the economic hardship deferment criteria used
for the Federal Family Education Loan Program. The Commission reserves the
right to consider and make the final decision as to any request on the basis of
undue hardship, economic or otherwise.
(vi) Complete cancellation of a student's
debt will be granted only in limited circumstances. These circumstances may
include a student's total and permanent disability, as determined by a medical
or osteopathic physician, or death.
(A) A
student who is determined to be totally and permanently disabled will have
his/her loan placed in a conditional discharge period for three (3) years from
the date the student became totally and permanently disabled.
(B) During this conditional period, the
student need not pay principal and interest will not accrue. If the student
continues to meet the total and permanent disability conditions during, and at
the end of, the three-year conditional period, the student's obligation to
repay the loan shall be canceled upon approval by the Commission.
(C) If the student does not continue to meet
the cancellation requirements, the student must resume payment within
forty-five (45) days of the medical opinion specified in (vi) of this
section.
(f)
Process for Cash Repayment. The process and schedule for cash repayment under
(h)(v) for WYIN and TSLR loans and section (j)(v) for WAPLR loans shall be
administered by the Commission through its designated financial institution.
Students shall be notified by the Commission through its designated financial
institution of the approved payment plan.
(g) Review and Reporting. Any designated
financial institution the Commission employs shall prepare a report once a year
outlining the services it is providing and the progress made.
(h) WYIN and TSLR programs.
(i) Funding:
(A) Funding for a WYIN student in an
undergraduate nursing program at a Wyoming community college or the University
of Wyoming will be for a maximum of four semesters between any combination of
institutions.
(B) Funding for a
WYIN student in a graduate nursing or nurse educator program at the University
of Wyoming or at an institution approved by the Commission will be for a
maximum of the equivalent of 60 graduate-level credit hours.
(C) Funding for a TSLR student will be for a
maximum of the equivalent of two full-time academic years for all qualified
areas of study as designated in
W.S.
21-7-601, except for students enrolled in a
special education program of study, who may receive funding for a maximum of
the equivalent of three full-time academic years, assuming funds are
appropriated by the legislature.
(ii) Application Form. To be eligible to
participate in either of these programs, a student shall submit an application
to the Commission or its designee upon a form approved by the Commission
according to the deadlines determined by each participating educational
institution.
(iii) Selection
Process
(A) The Commission shall designate the
financial aid officers at the University of Wyoming and the Wyoming community
colleges to administer these programs subject to the following:
(I) Subject to the Commission's approval,
nurses pursuing a graduate degree may apply to the University of Wyoming, in
which case Section (II) below shall apply. All others shall make application
for loan funds to the Commission's designated financial institution. The
designated financial institution, acting in the same capacity as an institution
financial aid officer, shall apply the same rules as those listed below, except
the designated financial institution will not be given an allocation of WYIN
funds, rather applicants will be funded on a per applicant basis by the
Commission.
(II) The financial aid
officer shall require each applicant to apply to the participating educational
institution, review each application, and determine whether the applicant is
eligible under these rules;
(1.) Nurses with
an unencumbered BSN degree in nursing may apply for a loan to pursue a MSN
degree in nursing or nurse education, and a nurse with a MSN degree in nursing
or nurse education may apply for a loan to pursue a PhD in nursing or nurse
education.
(III) The
financial aid officer shall authorize loans from appropriated funds in an
amount sufficient to avoid over-commitment and to ensure sufficient funds
remain available to allow students to complete the program in which they
enrolled;
(1.) When determining the amount of
a loan in either program for which an applicant may be eligible, the unmet need
of the applicant shall be considered.
(IV) The funds appropriated by the
legislature will be allocated by the Commission to the University of Wyoming
and Wyoming's community colleges for students in these programs.
(V) The financial aid officers shall report
to the Commission and the designated financial institution responsible for
servicing the loans, the names of all students enrolled in the WYIN and TSLR
programs in their respective schools, including students enrolled in WICHE
schools or distance learning programs, within 30 days of initial enrollment.
Thereafter, the financial aid officers shall report to the Commission and the
financial institution on a semester basis regarding participants in the
program.
(iv)
Upon completion of the academic program, the student must provide the following
information every two months, until all the following requirements are reported
to the contracted financial institution:
(A)
WYIN program:
(I) Date of appropriate
certification or licensure examination;
(II) Successful passing score and
certification or licensure and employment information; or unsuccessful passing
score and date of next examination; and
(III) Outcome of second examination and, if
successful, employment information.
(B) TSLR program:
(I) Verification by the Professional Teaching
Standards Board of appropriate teacher certification in qualified areas of
study as designated by
W.S.
21-7-601; and
(II) Verification by a Wyoming public school
principal of successful employment in a public school in Wyoming teaching in a
qualified area of study as designated by
W.S.
21-7-601 at least 50 percent of the working
hours.
(v)
Terms of Repayment
(A) Repayment of loans
shall continue as specified under the loan agreement, until all loan
obligations have been satisfied.
(B) Qualified work shall be verified annually
by the Commission's designated financial institution by having received a
letter from the student's employer stating the person is currently or has been
employed as follows:
(I) As a nurse, if the
WYIN loan was for an undergraduate nursing degree, or nurse educator, if the
loan was for a graduate nursing degree.
(II) As a certified teacher in any qualified
area of study as designated by
W.S.
21-7-601 for a TSLR loan.
(C) Subject to the cash repayment
provision as detailed in
W.S.
9-2-123 for a WYIN loan and
W.S.
21-7-601 for a TSLR loan, the loan is
repayable in equal or graduated period installments, with the right of the
Commission to accelerate repayment, over a period not to exceed ten (10) years
that begins nine (9) months after the student ceases to be a student in the
nursing program.
(j) WAPLR program:
(i) Application Process. To be eligible to
participate in this program, a public school teacher (applicant) shall secure
from the school district a signed agreement using a form approved by the
Commission.
(A) The agreement form shall
include:
(I) Verification by the school
district that the applicant is a resident of Wyoming as defined in Chapter 1 of
these rules;
(II) Verification by
the school district that the applicant is employed as a teacher within the
school district;
(III) Verification
by the school district that the applicant is in good standing with the
Professional Teacher Standards Board;
(IV) Verification by the school district and
the post-secondary institution that the schedule of proposed coursework is
correct and necessary for the applicant to teach concurrent courses in the high
school;
(V) A list and schedule of
concurrent courses the applicant is expected to teach after completion of the
educational program; and
(VI)
Signatures of the school district superintendent or designee and the president
of the post-secondary institution or designee.
(B) The agreement described in (A) of this
section shall constitute a nomination for the program and be submitted by the
school district to the partner post-secondary institution in accordance with
the deadline prescribed by the Commission. In the event the school district
nominates more than one applicant, the school district shall prioritize
nominations prior to submitting all applications to the partner post-secondary
institution.
(ii)
Submission to the Commission:
(A) The
post-secondary institution shall submit the nomination(s) to the Commission no
later than the second Friday of March or the third Friday in October of the
school year in which the educational program is planned.
(B) In the event that the post-secondary
institution receives more than one nomination, the post-secondary institution
shall prioritize nominations prior to submitting all applications to the
Commission.
(iii)
Selection Process:
(A) The Commission shall
review all applications and select recipients based on the following criteria:
(I) Amount of coursework and length of time
necessary to qualify the applicant to teach concurrent courses;
(II) Estimated number of students enrolled in
concurrent classes to the eligible student population expressed as a percentage
impacted when the concurrent courses are offered by the community college in
cooperation with the school district;
(III) How the post-secondary institution has
prioritized the nominations; and
(IV) The scope and access of concurrent
courses currently offered by the community college in cooperation with the
school district.
(B) The
Commission shall notify successful applicants no later than the third Friday of
April or the third Friday in November of the school year in which the
educational program is planned, and shall specify the terms and conditions of
the loan.
(iv) Payment
Process:
(A) Payment for reimbursement of
tuition and fees shall be made by the Commission on a semester-by-semester
basis to the applicant.
(I) The school
district shall verify successful completion for each course and shall report
completion to the Commission. This report shall include:
(1.) An official transcript provided by the
applicant from the post-secondary institution showing the course or courses
were completed with a passing grade of A, B, C, S or P; and
(2.) The total cost of tuition and fees to be
reimbursed.
(II) If an
applicant fails to meet the standard established in (1.) of this section, the
applicant will begin cash repayment as described in (d)(v) of this
section.
(B) Terms and
conditions of loans awarded under this section shall be approved by the
Commission.
(v) Terms of
Repayment
(A) A recipient of a loan under this
section may repay the loan without cash payment by teaching at least one
concurrent class in a Wyoming public school. To qualify as repayment under this
subsection, work shall be performed for a minimum of two (2) years, which shall
begin the fall semester of the academic year following completion of the
educational program. Annually, the Wyoming public school district shall provide
verification that the applicant is teaching a concurrent college-level
credit-bearing course or courses in one or more high schools.
(B) Repayment of loans shall continue as
specified under the loan agreement until all loan obligations have been
satisfied.
(C) Qualified work shall
be verified by the Commission by having received a letter from the applicant's
employer stating the applicant is currently or has been employed as a teacher
in a qualifying area of study. This letter must be submitted at the end of the
spring semester for the two (2) years immediately following completion of the
academic program.
(D) Subject to
the cash repayment provision as detailed by
W.S.
21-7-601, the loan is repayable in equal or
graduated installments with the right of the Commission to accelerate payment
over a period not to exceed two (2) years that begins forty-five (45) days
after the applicant ceases to be a student in the academic program. The
Commission may approve a longer period for repayment in extenuating
circumstances.
(E) Applicants shall
not be considered in default when the school district or post-secondary
institution does not offer a previously agreed upon concurrent course or
courses and such action does not extend the repayment period.
Notes
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