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{ISAC Rules, Section 2741.30}
By signing the Practice Agreement/Promissory Note section of the Optometric Education Scholarship Program Application, the applicant promises to practice in Illinois as a licensed optometrist for a period of not less than one year for each year of scholarship assistance received.
The applicant also promises to begin practicing optometry in Illinois within one year following completion of the academic program for which the student was awarded the scholarship and promises to practice on a continuous basis until they have fully completed their obligation.
If the recipient does not fulfill the requirement to practice optometry in Illinois, the scholarship converts to a loan and the recipient must repay the entire amount of the scholarship(s), prorated according to the fraction of the obligation not completed, plus interest at a rate of 5%, and, if applicable, reasonable collection fees.
The recipient also agrees to provide ISAC with evidence of compliance with the program requirements and promises to use of the proceeds of the scholarship for educational expenses.
A recipient of the scholarship will not be in violation of their agreement during periods in which the recipient:
- serves, for not more than three years, as a member of the United States Armed Forces;
- is enrolled full-time in a residency program at an approved institution for one continuous period of time, not to exceed one year, following graduation;
- is temporarily totally disabled for not more than three years, as established by the sworn affidavit of a qualified physician;
- cannot fulfill the practice obligation due to his or her death, verified by a certified copy of a death certificate; or
- cannot fulfill the practice obligation due to his or her disability or incompetency, as established by sworn affidavit of a qualified physician.
If a recipient is required to repay any portion of the scholarship, the repayment period must be completed within 10 years after the scholarship converts to a loan. The 10-year period may be extended if the recipient:
- serves, for not more than three years, as a member of the United States Armed Forces;
- is enrolled full-time in a residency program at an approved institution for one continuous period of time, not to exceed one year, following graduation; or
- is temporarily disabled, for not more than three years, as established by the sworn affidavit of a licensed physician.
A recipient shall enter repayment status on the earliest of the following dates:
- the first day of the first calendar month after the recipient has ceased to pursue a course of study leading to certification as an optometrist;
- the date the recipient informs ISAC that s/he does not plan to fulfill the practice obligation; or
- the day after the latest date upon which the recipient must have begun practicing as an optometrist after completing the education for which the scholarship was awarded.
A recipient shall not be required to repay the amount of the scholarship(s) received if s/he becomes permanently totally disabled, as established by the sworn affidavit of a licensed representative, or if his or her representative provides ISAC with a certified death certificate.
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