1. Debt calculation. The debt must include the total amount of the loan and interest at the rate established by rule of the authority, less the amount, if any, that has been cancelled by return service.

2. Time for repayment. The total debt must be repaid to the authority within 10 11 years of graduation from the institution of higher education according to a schedule established by the chief executive officer. Due dates for repayments are set by the chief executive officer and may be extended for the same period of any deferment granted by the chief executive officer.

3. Deferment. A recipient of a loan may seek a deferment of the annual payments for a period or periods as established by rule of the authority. A request for deferment must be made to the chief executive officer who shall make a determination on a case-by-case basis. The chief executive officer may grant a deferment in the event that a recipient of a loan evidences intent to teach and inability to secure employment necessary to obtain forgiveness of the loan at the time the deferment is sought. The chief executive officer shall require certification of the intent annually and grant a one-year deferment for each successful request for deferment for a period not to exceed one year. A recipient may not receive more than 5 one-year deferments. The decision of the chief executive officer is final may establish limits to the number of deferments that may be granted to any recipient by rule of the authority.

4. Child development students. A child development student may fulfill a return service requirement under this section by working in a licensed day care center or for a certified home day care provider, as defined in Title 22, section 8301-A.

5.__Death or disability.__The authority may forgive loans of loan recipients who have died or who have become permanently