FINANCIAL SUPPORT; COMMITMENT TO PRACTICE IN RURAL COUNTY

(a) To participate in the program, an eligible participant must enter into an agreement with the Texas Higher Education Coordinating Board that: (1) requires the participant to practice veterinary medicine in a rural county for one calendar year for each academic year for which the participant receives financial support under the program; (2) specifies the conditions the participant must satisfy to receive financial support under the program; (3) provides that any financial support the participant receives under the program constitutes a loan until the participant satisfies the conditions of the agreement; and (4) requires the participant to sign a promissory note acknowledging the conditional nature of the financial support received under the program and promising to repay the amount of the financial support, any applicable interest, and reasonable collection costs if the participant does not satisfy the conditions of the agreement. (b) The financial support received by an eligible participant under this subchapter must be used to retire student loan debt or to pay tuition and fees to a college while the eligible participant is enrolled in the college. (c) Financial support from the account shall be awarded as a lump sum payable: (1) to both the participant and the lender or other holder of the affected loan; or (2) directly to the lender or other holder of the affected loan on the participant's behalf.