The Program provides a loan to students who are pursuing a qualifying degree for a qualifying job, and intends to work in a qualifying job in Utah. The Governor's Office of Economic Development will determine which jobs are qualifying and the qualifying degrees for each. Institutions may forgive the students' loans based on how long the students work in qualifying jobs. The Legislature directed the Board of Regents (Board) to oversee the application process and general administration of the Program, including a process for appropriately dividing funding among the institutions. This policy establishes the operating procedures for this Program directed by the Legislature.