Background:

 

The Oklahoma Legislative and Executive branches passed HB 3196 to provide financial support to students pursuing a veterinary medicine degree at Oklahoma State University to practice in rural Oklahoma communities and receive training to meet the needs of livestock producers. The following statutory provisions apply to this new program.

 

• Preference shall be given to those students who are focused on large animal veterinary medicine, who are Oklahoma residents and who agree to serve in a community in Oklahoma which has a population not to exceed 25,000.

 

• Allocation shall be prioritized to eligible students currently enrolled at the Oklahoma State University College of Veterinary Medicine.

 

• Each student entering into a program agreement may receive assistance in an amount not to exceed Twenty-five Thousand Dollars ($25,000.00) per year for not more than four (4) years for tuition, books, supplies and other school expenses, and travel and training expenses incurred by the student in pursuing a veterinary medicine degree. Upon satisfaction of all commitments under the provisions of the scholarship agreement, the financial obligations pursuant to the agreement shall be deemed satisfied and forgiven.

 

• Complete all requirements in public health, livestock biosecurity, foreign animal disease diagnosis, regulatory veterinary medicine and zoonotic disease, and an externship and mentoring requirement with a licensed, accredited veterinarian in rural Oklahoma as required by the College of Veterinary Medicine.

 

• Engage in the a full-time practice of veterinary medicine focused on large animal medicine in any community in Oklahoma which has a population not exceeding twenty-five thousand (25,000) as determined by the most recent Federal Decennial Census at the time the person entered into the program agreement for a period of at least twelve (12) continuous months for each separate year a student receives assistance under the program, unless the obligation is otherwise satisfied as provided in this section. If, after the date a program agreement was entered into by the parties, a community no longer meets the maximum population requirements provided in this paragraph, a person engaging in the full-time practice of veterinary medicine pursuant to the program agreement shall continue to practice in that designated community.

 

• Commence the full-time practice of veterinary medicine focused on large animal medicine in that community within ninety (90) days after completion of the person's degree program, or if the person enters a post degree training program, such as a graduate school or internship or residency program, within ninety (90) days after completion of the post degree training program.

 

• Upon the failure of a person to satisfy the obligation to engage in the full-time practice of veterinary medicine in accordance with the provisions of the agreement, that person shall repay to the OSU Veterinary Medicine Authority, within ninety (90) days of the failure, the amount equal to the assistance provided to the person less a prorated amount based on any periods of practice of veterinary medicine meeting the requirements of the agreement, plus interest at the prime rate of interest plus two percent (2%) from the date the assistance accrued. The interest shall be compounded annually.

 

• An obligation to engage in the practice of veterinary medicine in accordance with the provisions of this section shall be postponed during:
  1. Any period of temporary medical disability during which the person obligated is unable to practice veterinary medicine due to the disability; and,
  2. Any other period of postponement agreed to or determined in accordance with criteria agreed to in the practice agreement.

 

• An obligation to engage in the practice of veterinary medicine in accordance with the provisions of this section shall be postponed during: 
  1. Any period of temporary medical disability during which the person obligated is unable to practice veterinary medicine due to the disability; and
  2. Any other period of postponement agreed to or determined in accordance with criteria agreed to in the practice agreement.
  3. An obligation to engage in the practice of veterinary medicine in accordance with the provisions of the agreement and this section shall be satisfied:
     1. If the obligation to engage in the practice of veterinary medicine in accordance with the agreement has been completed; or
     2. If, because of permanent disability, the person obligated is unable to practice veterinary medicine; or

• The person who is obligated is no longer living.

 

• The OSU Veterinary Medicine Authority may adopt additional provisions, requirements or conditions to participate in this program as are practicable and appropriate to accomplish the provisions of the program or may be required for the implementation or administration of the program and are not inconsistent with the statutory provisions of HB 3196.

Implementation:

The following operational procedures as approved by the Authority shall be utilized to implement the scholarship program.

 

1. Students desiring to be considered for the scholarship shall apply through the College of Veterinary Medicine.
2. The Dean of the College of Veterinary Medicine will provide a list of recommended scholarship recipients to the Authority for their consideration.
3. All scholarship awards will be transmitted in accordance with existing OSU financial aid policies and procedures.
4. Awards for scholarships will be in an amount not to exceed $25,000 per year.
5. Scholarship recipients will be required to execute a Scholarship Agreement approved by the Authority outlining:
   
   1. The definition and requirements of eligibility as outlined in HB 3196.
   2. The years-of-service requirement and potential payback provisions in the event of a possible agreement default.
   3. Other provisions as determined by the Authority.

  6. All executed scholarship agreements will contain provisions outlining that future awards will be contingent upon satisfactory academic standing and continued annual funding through the legislative process. 

Background:

 

The Oklahoma Legislative and Executive branches passed HB 3196 to provide loan forgiveness to currently practicing large animal veterinarians with qualifying student loans. The following statutory provisions apply to the loan forgiveness program.

 

• Applicants for loan forgiveness shall be graduates of the OSU College of Veterinary Medicine.

 

• Applicants must be currently practicing in a community in Oklahoma which has a population not to exceed 25,000 as determined by the most recent Federal Decennial Census. The recipient must continue to practice in the qualified community for a period of at least twelve (12) continuous months for each separate year the recipient receives loan forgiveness under the program, unless the obligation is otherwise satisfied as provided in the agreement. If, after the date a program agreement was entered into by the parties, a community no longer meets the maximum population requirements provided in this paragraph, a person engaging in the full-time practice of veterinary medicine pursuant to the program agreement shall continue to practice in that designated community.

 

• Each applicant entering into a program agreement may receive assistance in an amount not to exceed Twenty-five Thousand Dollars ($25,000.00) per year for not more than four (4) years or until the outstanding loan balance is paid, whichever comes first. Upon satisfaction of all commitments under the provisions of the loan forgiveness agreement, the financial obligations pursuant to the agreement shall be deemed satisfied and forgiven.

 

• Upon the failure of a person to satisfy the obligation to continue full-time practice of veterinary medicine in accordance with the provisions of the agreement, that person shall repay to the OSU Veterinary Medicine Authority, within ninety (90) days of the failure, the amount equal to the assistance provided to the person less a prorated amount based on any periods of practice of veterinary medicine meeting the requirements of the agreement, plus interest at the prime rate of interest plus two percent (2%) from the date the assistance accrued. The interest shall be compounded annually.

 

• An obligation to engage in the practice of veterinary medicine in accordance with the provisions of this section shall be postponed during:
  1. Any period of temporary medical disability during which the person obligated is unable to practice veterinary medicine due to the disability; and
  2. Any other period of postponement agreed to or determined in accordance with criteria agreed to in the practice agreement.
  3. An obligation to engage in the practice of veterinary medicine in accordance with the provisions of the agreement and this section shall be satisfied:
     1. If the obligation to engage in the practice of veterinary medicine in accordance with the agreement has been completed; or
     2. If, because of permanent disability, the person obligated is unable to practice veterinary medicine; or the person who is obligated is no longer living.

 

• The OSU Veterinary Medicine Authority may adopt additional provisions, requirements or conditions to participate in this program as are practicable and appropriate to accomplish the provisions of the program or may be required for the implementation or administration of the program and are not inconsistent with the statutory provisions of HB 3196.

 

Implementation:

The following operational procedures as approved by the Authority shall be utilized to implement the Loan Forgiveness program.

 

1. Veterinarians desiring to be considered for loan forgiveness shall apply through the OSU College of Veterinary Medicine.
2. The Dean of the College of Veterinary Medicine will provide a list of recommended loan forgiveness recipients to the Authority for their consideration and/or approval.
3. All loan forgiveness awards will be transmitted in accordance with existing OSU policies and procedures.
4. Awards for loan forgiveness will be in an amount not to exceed $25,000 per year.
5. Loan forgiveness recipients will be required to execute a Loan Forgiveness Agreement outlining:
   
   1. The definition and requirements of eligibility as outlined in HB 3196.
   2. The years-of-service requirement and potential payback provisions in the event of a possible agreement default.
   3. Other provisions as determined by the Authority.

f. All executed loan forgiveness agreements will contain provisions outlining that future awards will be contingent upon satisfactory academic standing and continued annual funding through the legislative process.