Nevada Revised Statutes Title 34. Education § 396.890. Administration by Board of Regents; eligibility for loans; terms and repayment of loans; delinquency charges

(a) Have been a “bona fide resident” of Nevada, as that term is defined in NRS 396.540, for at least 6 months prior to the “matriculation” of the student in the System, as that term is defined pursuant to NRS 396.540;

(b) Be enrolled at the time the loan is made in a nursing program of the System for the purpose of becoming a licensed practical nurse or registered nurse;

(c) Except as otherwise provided in NRS 396.158, fulfill all requirements for classification as a full-time student showing progression towards completion of the program; and

(d) Except as otherwise provided in NRS 396.158, maintain at least a 2.00 grade point average in each class and at least a 2.75 overall grade point average, on a 4.0 grading scale.

(a) All loans must bear interest at 8 percent per annum from the date when the student receives the loan.

(b) Each student receiving a loan must repay the loan with interest following the termination of the student's education for which the loan is made. The loan must be repaid in monthly installments over the period allowed with the first installment due 1 year after the date of the termination of the student's education for which the loan is made. The amounts of the installments must not be less than $50 and may be calculated to allow a smaller payment at the beginning of the period of repayment, with each succeeding payment gradually increasing so that the total amount due will have been paid within the period for repayment. The period for repayment of the loans must be: