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A.  The Louisiana Student Financial Assistance Commission, hereinafter referred to as “the commission”, may use funds appropriated for or otherwise available to the commission for such purpose to make loans to not more than four students each year who each meet all of the following eligibility criteria:

(1)  Is a bona fide citizen and resident of the state.  However, first priority shall be given to students who have been residents of the state for at least two years.

(2)  Has been accepted to enroll in a school of veterinary medicine.

(3)  Intends to acquire a doctor of veterinary medicine degree from a school of veterinary medicine.

(4)  Intends to practice as a food animal veterinarian in the state of Louisiana.

(5)  Meets such other qualifications as the commission may prescribe by rule.

B.  The commission may make a loan to a student who it deems to be qualified, upon such terms and conditions as the commission may impose in accordance with the provisions of this Chapter.

C.  Any student to whom the commission has made a loan shall be required to maintain all requirements set forth by the school of veterinary medicine such student is attending.

D.  It shall be the duty of the commission to do all of the following:

(1)  Accept and review each application for such a loan.

(2)  Make careful and full investigation of the qualifications of each applicant.

(3)  Determine the eligibility of the applicant to become the recipient of such a loan and to continue to be eligible for such loan.

E.  The commission may prescribe such rules and regulations as it deems necessary and proper to carry out the purposes of this Chapter which shall include and provide for an open and competitive process for determining loan recipients.

Acts 2004, No. 809, §1, eff. July 12, 2004.