Indiana § 5-34-1-9 - Repayment agreement
Full text of Indiana Indiana Code § 5-34-1-9 — Repayment agreement, with citation guidance and answers to common questions.
§ 5-34-1-9. Repayment agreement
Sec. 9. (a) INvestED Indiana shall require an individual who receives an award from the fund to enter into an agreement for repayment of the award.
(b) An agreement for repayment of an award from the fund is subject to the following:
(1) The agreement may not require the individual to make repayments during any period in which the individual is earning a lower annualized income than the individual earned in the taxable year immediately preceding the individual's enrollment in the qualified education program.
(2) The agreement may not require the individual to make repayments unless the individual is earning an annualized income that is not less than seventy-five percent (75%) of Indiana median household income.
(3) The total award repayment amount may not exceed the initial principal amount of the award.
(4) The recipient of an award may not be charged interest on the award.
(5) Award repayment installment amounts may not exceed five percent (5%) of the individual's monthly income. However, the individual may voluntarily choose to pay more than the repayment installment amount.
As added by P.L.165-2021, SEC.65.
Frequently Asked Questions About Indiana § 5-34-1-9
What does Indiana Code § 5-34-1-9 cover?
Section 5-34-1-9 ("Repayment agreement") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 5-34-1-9?
A common citation format is "Indiana Code § 5-34-1-9" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 5-34-1-9 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.