(a) Every student awarded tuition, fees and transportation pursuant to Paragraphs (a) and (b) of § 15402 of this Article shall execute a promissory note agreeing to repay said tuition fees and
transportation costs over a period not to exceed ten (10) years in the event that he does not return to Guam within three (3) months following completion of his course of studies and become employed on Guam for a period of not less than one (1) year.

(b) In the case of the failure of a student to return to Guam within three (3) months following completion of his course of studies or to be so employed on Guam for a period of not less than one (1) year, the Board shall declare in effect the repayment provisions as provided in Subsection (a) foregoing; provided, however, that the Board may extend the time of return for a period of not to exceed two (2) years upon written request of the student and upon a showing to the satisfaction of the Board of good cause for such extension.

SOURCE: GC § 11817, as R/R by P.L. 11-138.