161.421. Cessation of study — effect. — If a student ceases his study prior to receiving a degree, any scholarship received under the provisions of sections 161.415 to 161.424 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.
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(L. 1990 H.B. 1142 § 6)
---- end of effective 28 Aug 1990 ----
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