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Virginia Administrative Code
Title 12. Health
Agency 5. Department of Health
Chapter 542. Rules and Regulations Governing the Virginia Nurse Practitioner/Nurse Midwife Scholarship Program
11/21/2024

12VAC5-542-120. Cash repayment amount.

The full amount to be repaid by a recipient who fails or refuses to fulfill the practice obligation shall be determined in the following manner: the annual amount of the scholarship for the year the recipient obtained the scholarship multiplied by three, plus interest (current bank rate of interest on a similar amount of unsecured debt) calculated from the date of receipt of funds by the recipient until the scholarship is fully paid. Repeat the above calculation for each scholarship that the recipient obtained and add the sums of the calculation to determine the total amount due to be repaid to the Commonwealth.

Statutory Authority

§§ 32.1-12, 32.1-122.5, and 32.1-122.6:02 of the Code of Virginia.

Historical Notes

Derived from VR355-40-700 § 5.4, eff. August 1, 1994.

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