KRS 164.7531: Loan forgiveness programs -- Sunset provision.

(1) For purposes of this section, the terms "Best in Class for Teachers," "Best in Care

for Nurses," and "Best in Law for Public Service Attorneys" mean the loan

forgiveness programs established by the Higher Education Assistance Authority

under its authority in KRS 164.744(2) and 164.748(7). The term "eligible program

participant" means an individual who has an outstanding loan balance on a loan

related to these loan forgiveness programs that were issued prior to June 30, 2008.

(2) In the event that there are insufficient funds available from any source that can be

used by the Kentucky Higher Education Assistance Authority to provide loan

forgiveness for an eligible program participant, the authority shall negotiate an

extended repayment schedule upon request b y an eligible participant. The

negotiated schedule shall be in compliance with federal loan requirements.

Notwithstanding any other statute to the contrary, an eligible program participant in

this repayment schedule shall not forfeit eligibility for other loans or scholarships

that become available.

(3) The Best in Class for Teachers, Best in Care for Nurses, and Best in Law for Public

Service Attorneys programs shall end by June 30, 2018. Borrowers with remaining

balances shall be advised of federal loan forgiveness and alternative repayment plan

options.