Kentucky Revised Statutes Title V. Military Affairs § 40.327.Loan repayment program for registered nurses and licensed practical nurses employed by Department of Veterans’ Affairs; KHEAA to administer program; funding

(a) The recipient’s existing student loan debt shall be repaid up to twenty-five percent (25%) of the loan’s principal and interest up to a maximum of ten thousand dollars ($10,000) after satisfactory completion of one (1) year of employment at the state veterans’ nursing home assigned;

(b) The recipient’s student loan shall be repaid up to twenty-five percent (25%) of the loan’s principal and interest up to a maximum of ten thousand dollars ($10,000) after satisfactory completion of a second consecutive full year of employment at the state veterans’ nursing home assigned;

(c) The recipient’s student loan shall be repaid up to twenty-five percent (25%) of the loan’s principal and interest up to a maximum of ten thousand dollars ($10,000) after satisfactory completion of a third consecutive full year of employment at the state veterans’ nursing home assigned;

(d) The recipient’s student loan shall be repaid up to twenty-five percent (25%) of the loan’s principal and interest up to a maximum of ten thousand dollars ($10,000) after satisfactory completion of a fourth consecutive full year of employment at the state veterans’ nursing home assigned; and

(e) The total amount paid by the loan repayment program shall not exceed forty thousand dollars ($40,000) for a maximum of four (4) consecutive full years of employment per person.