Forgiveness Benefits. You may be eligible for forgiveness benefits of 10 percent a year, for up to 50 percent of loan principal, if you receive the certificate or degree for which this loan was awarded, are employed full-time in a qualified fisheries related field, have qualifying employment and residency in Alaska, and are current in repayment. The forgiveness will reduce the number of monthly payments you must make, but will not reduce the amount of the monthly payment. A. Governing Law:
Appears in 3 contracts
Samples: Education Loan Application and Promissory Note, Promissory Note, Education Loan Application and Promissory Note
Forgiveness Benefits. You may be eligible for forgiveness benefits of 10 percent a year, for up to 50 percent of loan principalthe loans principal balance. In order to qualify for forgiveness, if you must:
1. receive the certificate or degree for which this loan was awarded, are ;
2. be employed full-time in a qualified fisheries related field, ;
3. have qualifying employment and residency in Alaska, and are ; and
4. be current in repayment. The forgiveness will reduce the number of monthly payments you must make, but will not reduce the amount of the monthly payment.
A. Governing Law:
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
