OAR 575-080-0140: Terms of Agreement

Nurse educators who are selected to participate in the Nursing Faculty Loan Repayment Program shall agree that: (1) A total of the nurse educator’s qualifying loan amount while in nursing school and in a teaching program shall be provided by the nursing educator. An annual repayment for this program will not exceed the lesser of 20 percent of this total or $10,000, as adjusted under subsection (5). (2) Beginning the academic year following the execution of a Nursing Faculty Loan Repayment Agreement, a participant agrees to teach full time for one academic year, as defined by the hiring nursing school in Oregon, for each year of repayment. Repayment will take place at the end of the academic year. (3) Nurse Educators with a master’s degree may not receive more than three years of reimbursement. (4) Nurse Educators with a doctorate degree may not receive more than five years of reimbursement. (5) On January 1 of each year, beginning in 2010, the Commission shall adjust the maximum dollar amount allowed under section (1) of this rule as a qualifying loan as specified in SB 701.