Missouri Revised Statutes













Chapter 160

Schools--General Provisions

←160.278

Section 160.281.1

160.283→

August 28, 2015

Loan paid back with interest if student fails to obtain degree--loans may be sold.

160.281. If a student ceases his study prior to receiving a degree, any

scholarship received under the provisions of sections 160.276, 160.278,

160.281 and 160.283 shall be treated as a loan to the student and interest at

the rate of nine and one-half percent per year shall be charged upon the

unpaid balance of the amount received from the date the student ceases his

study until the amount received is paid back to the state. In order to

provide for the servicing of such loans, the department of elementary and

secondary education may sell such loans to the higher education loan

authority of the state of Missouri created under sections 173.350 to 173.450.



(L. 1985 H.B. 463 § 9 subsec. 5, A.L. 1990 S.B. 740)







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