Current through Register Vol. XXXIX, No. 11, March 18, 2022
recipient of the West Virginia Invests Grant Program shall enter into an
agreement with the Vice Chancellor for Administration agreeing to the
8.1.1. Once a recipient completes
their program of study or is no longer enrolled at least half-time, they must
provide acceptable documentation as determined by the Council that they are
continually residing in West Virginia for at least two years from the time the
recipient drops below half-time.
8.1.2. Recipients who are serving as a member
of the armed services of the United States and maintaining legal residency in
West Virginia while stationed for military purposes will be considered as
meeting the residency requirement for the West Virginia Invests Grant
recipient will be required to make monetary repayment if:
8.2.1. The recipient does not continually
reside in West Virginia for two years upon completion of their program of study
and after dropping below half-time enrollment; or
8.2.2. It is determined that the recipient
fraudulently obtained West Virginia Invests Grant Program funds; or
8.2.3. The recipient does not provide
acceptable documentation of continually residing in West Virginia in a timely
8.3. In addition
to the repayment of the grant, interest will be charged at a rate determined by
the Vice Chancellor for Administration and will begin to accrue at the time the
repayment period begins.
recipient fulfills a portion of the residency obligation, interest will accrue
from the day on which the recipient ceased to be a resident of West Virginia.
8.4.1. The monetary repayment may be prorated
based upon a percentage of the two years that the recipient resided in West
permitted by federal law, applicable state regulations, and the terms of the
grant agreement, reasonable collection costs, late charges and attorney fees
may be assessed in the collection of delinquent accounts.
8.6. Recipients have a ten-year period to
repay the West Virginia Invests Grant Program funds. If extenuating
circumstances exist, the Vice Chancellor for Administration, upon receipt of
appropriate documentation, may extend the period of repayment to fifteen
8.7. A recipient may request
a deferment for pursuing a half-time course of study at an accredited
institution of higher education or while serving on active duty as a member of
the armed services of the United States.
8.8. A recipient may request a forbearance
due to monetary hardship, sickness, or other acceptable reasons as approved by
the Vice Chancellor for Administration if a recipient is unable to make
payments but does intend to fulfill the monetary obligation.
A recipient's obligation is excused in
the event the recipient:
permanently or totally disabled as established by sworn affidavit of a
qualified physician. The Vice Chancellor for Administration may require
additional evidence of the disability
8.9.2. Is deceased. A copy of the death
certificate must be submitted.