R765-615-9. Loan Cancellation, Repayment, and Waiver

  9.1. For each year that a recipient works in a qualifying job in Utah following completion of a qualifying degree, the institution that awarded the incentive loan shall waive repayment of the amount of one year of the recipient's incentive loan.

  9.2. An institution shall require a recipient to repay to the institution the full amount of an incentive loan if the recipient fails to:

  9.2.1. Graduate with a qualifying degree within six years of initially receiving the incentive loan,

  9.2.2. Work in a qualifying job in Utah within one year of completing a qualifying degree, or

  9.2.3. Work in a qualifying job for fewer years than the number of years required to waive repayment of the full incentive loan.

  9.3. Institutions may cancel an incentive loan if the recipient changes the degree he or she selected in the declaration at any time prior to graduation.

  9.4. Institutions may waive repayment if a recipient has graduated with a qualifying degree within six years of receiving the loan, works in a non-qualifying job that the institution determines is reasonably related to the degree, and resides in Utah.

  9.5. Institutions may delay repayment for reasonable, unforeseen circumstances that inhibits the recipient's ability to meet the requirements for loan payment waivers as described above.

  9.6. Institutions may waive repayment for circumstances of prolonged financial hardship.