SECTION 610:25-27-7. Benefits to be disbursed under the program  

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  • (a)   Under the provisions of the TSEIP, the OSRHE, are authorized to make the employment incentive payments to persons who actually render a minimum of five (5) years of service as teachers in the public schools of this state if not less than seventy-five percent (75%) of the teaching assignment meets the criteria [70 O.S. §698.3(B)], specified above.
    (b)   An Employment Compliance Form must be submitted to OSRHE upon completion of the 5th year of eligible teaching service. An authorized school official must complete the form.
    (c)   Depending on the June 30 student loan balance of any qualifying Participant, as of the year that all program requirements are satisfied, and contingent upon the availability of funds, OSRHE will issue disbursements of program benefits directly to the qualifying participants for the repayment of eligible student loans.
    (d)   The total amount of employment incentive payments for any qualified person shall not exceed an amount equal to three times the average annual cost of undergraduate resident tuition and fees for full-time enrollment at institutions which offer teacher education programs within The Oklahoma State System of Higher Education, as defined by the State Regents. [70 O.S. § 698.3(B)]
    (e)   Eligible loans will be repaid by the Participant in the following priority:
    (1)   First, all loans guaranteed by OSRHE, ranked first by rate of interest (highest to lowest) and secondly, by loan disbursement date (oldest to newest).
    (2)   Second, all other eligible loans ranked first by rate of interest (highest to lowest) and secondly, by loan disbursement date (oldest to newest).
    (f)   Any amount of excess of the Participant's outstanding student loan balance, or the entire benefit amount for the participants with no outstanding student loan balance, shall be paid directly to any person otherwise eligible for employment incentive payments pursuant to this section.
    (g)   If OSRHE determines that any TSEIP disbursement was authorized based on misleading or incorrect information, the Participant must reimburse such payment to OSRHE.
[Source: Added at 18 Ok Reg 2773, eff 6-25-01; Amended at 18 Ok Reg 3559, eff 8-8-01 (emergency); Amended at 19 Ok Reg 248, eff 10-23-01 (emergency); Amended at 19 Ok Reg 1503, eff 5-28-02; Amended at 25 Ok Reg 800, eff 3-11-08 (emergency); Amended at 26 Ok Reg 1327, eff 5-25-09]