La. Admin. Code tit. 48 § V-13309

Current through Register Vol. 50, No. 9, September 20, 2024

Section V-13309 - Award Amounts

A. Award amounts are contingent upon available funding and the amount of qualifying student loan debt.

B. LDH will contract directly with the award recipient.

C. Award amount may be up to $150,000 for a five-year contract (or the amount of the principal balance of the educational loan if less than the total eligible to receive).

D. Participants who complete their original five-year commitment in compliance, remain in an eligible site in a HPSA, and still have educational loans to repay, may be able to extend their commitment with a two-year renewal to receive up to $15,000 annually.

E. Disbursement of funds will occur quarterly upon receipt of loan verification payment (LPV) for the funds paid the prior quarter.

F. If the contractor breaches their obligation, the contractor will be subject to pay an amount equal to the sum of the following:

1. the total amount paid by the LDH to, or on behalf of, the participant for loan repayment for any period of obligated service not served;

2. an amount equal to the number of months of obligated service not completed multiplied by $7,500; and

3. interest on the above amounts at the judicial interest rate pursuant to R.S. 13:4202, from the date of breach.

La. Admin. Code tit. 48, § V-13309

Promulgated by the Department of Health, Office of Public Health, LR 49, Amended LR 491744 (10/1/2023).

AUTHORITY NOTE: Promulgated in accordance with R.S. 40:1205.1 et seq.

NOTE: The minimum amount that LDH is entitled to recover will not be less than $31,000.