Utah Administrative Code (Current through November 1, 2019) |
R434. Health, Family Health and Preparedness, Primary Care and Rural Health |
R434-40. Utah Health Care Workforce Financial Assistance Program Rules |
R434-40-8. Eligible Bona Fide Loans
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(1) An eligible bona fide loan is a loan used to pay for educational expenses leading to a qualifying geriatric professional or health care professional degree approved by the Department.
(2) A bona fide loan includes the following:
(a) a commercial loan made by a bank, credit union, savings and loan association, insurance company, school, or credit institution;
(b) a governmental loan made by a federal, state, county, or city agency;
(c) a loan made by another person that is documented by a contract notarized at the time of the making of the loan, indicative of an arm's length transaction, and with competitive term and rate as other loans available to students; or
(d) a loan that the applicant conclusively demonstrates to the Department is a bona fide loan.