Mississippi § 37-51-19 - Repayment of loans.
Full text of Mississippi Mississippi Code of 1972 Annotated § 37-51-19 — Repayment of loans., with citation guidance and answers to common questions.
§ 37-51-19. Repayment of loans.
Any loans made or granted to any applicant shall be made and based upon the following conditions of repayment: Repayment in full of the principal of the loan may be made at any time prior to three years after graduation from or termination of attendance in an approved school, plus simple interest at the rate of three percent per annum from the date of each payment made to applicant. Repayment of the principal of the loan after three years from the date of graduation from or termination of attendance in an approved school shall be with interest at the rate of four percent per annum from the date of each payment made to applicant. From and after the fourth year following graduation or termination of attendance in an approved school, the rate of interest to be paid on the remaining unpaid balance, after such fourth year, shall increase at the rate of one-half percent per annum to a maximum of eight percent. No applicant shall be entitled to more than twelve years after said graduation or termination of attendance in an approved school within which to repay said loan.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 37-51-19
What does Mississippi Code of 1972 Annotated § 37-51-19 cover?
Section 37-51-19 ("Repayment of loans.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. 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 Mississippi § 37-51-19?
A common citation format is "Mississippi Code of 1972 Annotated § 37-51-19" (Mississippi). 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 Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 37-51-19 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi 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 Mississippi.