(a) The Arkansas State Board of Nursing shall:(1) Prescribe forms to be used in the Nursing Student Loan Program;(2) Regulate the submission of applications for loans;(3) Determine eligibility of applicants;(4) Allow or disallow applications for financial assistance;(5) Contract for, increase, decrease, terminate, and otherwise regulate all loans made under this subchapter and the repayment of these loans;(6) Forgive loans and portions of loans as provided for; and(7) Manage, operate, and control all funds and property appropriated or otherwise contributed for purposes of funding this program.(b) The board may:(1) Accept gifts, grants, bequests, devises, donations, and any federal funds available for the program, to be used together with funds appropriated for the program for making loans under this subchapter; and(2) Hire a qualified person or entity to administer any aspect of the program.Acts 2003, No. 84, § 5; 2009, No. 9, § 2.
Arkansas Legal Code