{"data":{"id":"us-ky/krs-40.327","jurisdiction":"us-ky","citation":"KRS 40.327","heading":"Loan repayment program for registered nurses and licensed practical","body":"nurses employed by Department of Veterans' Affairs -- KHEAA to administer\nprogram -- Funding.\n(1) The Kentucky Department of Veterans' Affairs shall create a loan repayment\nprogram for registered nurses and licensed practical nurses within their employ.\n(2) The loan repayment program shall apply to any existing student loan incurred by the\nemployee as a result of that employee's academic or technical studies leading to\nbecoming a registered nurse or licensed practical nurse.\n(3) The loan repayment program shall not apply to loans previously repaid.\n(4) Recipients of the loan repayment program shall sign a contract stipulating:\n(a) The recipient's existing student loan debt shall b e repaid up to twenty -five\npercent (25%) of the loan's principal and interest up to a maximum of ten\nthousand dollars ($10,000) after satisfactory completion of one (1) year of\nemployment at the state veterans' nursing home assigned;\n(b) The recipient's student loan shall be repaid up to twenty -five percent (25%) of\nthe loan's principal and interest up to a maximum of ten thousand dollars\n($10,000) after satisfactory completion of a second consecutive full year of\nemployment at the state veterans' nursing home assigned;\n(c) The recipient's student loan shall be repaid up to twenty -five percent (25%) of\nthe loan's principal and interest up to a maximum of ten thousand dollars\n($10,000) after satisfactory completion of a third consecutive full year of\nemployment at the state veterans' nursing home assigned;\n(d) The recipient's student loan shall be repaid up to twenty -five percent (25%) of\nthe loan's principal and interest up to a maximum of ten thousand dollars\n($10,000) after satisfactory completion of a four th consecutive full year of\nemployment at the state veterans' nursing home assigned; and\n(e) The total amount paid by the loan repayment program shall not exceed forty\nthousand dollars ($40,000) for a maximum of four (4) consecutive full years\nof employment per person.\n(5) The Kentucky Higher Education Assistance Authority shall administer this program\nfrom funds provided by the Kentucky Department of Veterans' Affairs as funds are\navailable.\n(6) The Kentucky Higher Education Assistance Authority and the Ke ntucky\nDepartment of Veterans' Affairs shall promulgate administrative regulations\nnecessary for the effectuation of this section, including limits on the amount of any\nloan that will be repaid.","path":["KRS Chapter 40"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49548","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:00Z","sha256":"46617464eb8614b08e1849e3bb420cd270daea7384f764085d1b9a313f413f6b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-40.325","next":"us-ky/krs-40.330"},"notice":"GroundRules: Original legal text. Not legal advice."}