Noyce Fast Track Scholarship Promissory Note - The College of ...

F. Default
If within twenty-four (24) months of ceasing to be enrolled at CSU – Pueblo or an approved secondary
mathematics licensure program at another accredited institution or within eight (8) years of completion of a
secondary mathematics licensure program approved by CSU-Pueblo’s Noyce Scholars Program, the recipient
fails to provide CSU-Pueblo’s Noyce Scholars Program with contact information stated above (Section II E) or
evidence to discharge the required payment (Section II G) as requested by CSU-Pueblo’s Noyce Scholars
Program, the loan will be determined in default. In the event of failure to make monthly loan payments for a
period that last 90 days or more, the loan will be determined in default. If the loan is in default, the entire
unpaid indebtedness may become immediately due and payable. CSU-Pueblo may disclose that the borrower
has defaulted, along with other relevant information, to credit bureau organizations, collection agencies and
the federal government. In the event of default and if the loan is referred to a private collection agency, the
recipient is responsible to pay collection agency fees in addition to the principal balance until the entire loan is
paid in full. Under default, the recipient will lose all rights to cancellation or loan forgiveness.
All repaid scholarship funds, including the applicable interest (see Section IV C) and late fees (see Section IV
A2), less grantee administrative costs associated with collection of the repayment not to exceed 5% of the
forfeited amount, will be returned to the United States Treasury.
G. Discharge of a Required Repayment
CSU-Pueblo will waive or suspend an obligation to repay the scholarship of a recipient who has died, or who is
not employable as a teacher due to a documented and physician verified permanent physical or mental
disability or some other extraordinary circumstance that arises through no fault of the recipient and which
CSU – Pueblo’s Noyce Scholars Program, in consultation with NSF, considers compelling. (See Section IV F of
Promissory Note.)
Upon receipt of acceptable documentation and approval of the discharge request, CSU-Pueblo will return to
the recipient, or for a discharge of death, the recipient’s estate, those payments received after the date of
eligibility requirements for the discharge were met and prior to the date of the discharge was approved. CSU-
Pueblo also returns any payments received after the date the discharge was approved.
H. Exit Conference
Before the recipient withdraws from CSU-Pueblo, CSU-Pueblo’s Noyce Scholars Program will provide the
recipient an opportunity to review fully the terms and conditions of this scholarship.
Last Revised March 10, 2012 Page 5 of 9