(a) A student who receives an Arkansas Future Grant shall enter into a written agreement with the Division of Higher Education to:
(1)
(A) Receive monthly mentoring from a mentor from an organization determined by the Division of Higher Education.
(B) A mentor under subdivision (a)(1)(A) of this section shall:
(i) Receive annual mentoring training:
(a) Developed by the Division of Higher Education; and
(b) Provided by a local volunteer group approved by the Division of Higher Education; and
(ii) Certify to the Division of Higher Education that at least one (1) time each semester the mentor has provided mentoring services by telephone, email, or in person to each student he or she is mentoring;
(2)
(A) Complete at least ten (10) hours of community service each semester the student receives a grant.
(B)
(i) A student may select a community service project that meets requirements developed by the Division of Higher Education.
(ii) An approved institution of higher education may provide community services opportunities designed to benefit the approved institution of higher education community or the broader local community.
(C) A student shall certify his or her community service to the approved institution of higher education by the last regular day of the semester the student received the grant; and
(3)
(A) Reside in this state for three (3) consecutive years and be employed beginning within six (6) months after receiving an associate degree or a certification.
(B) The Division of Higher Education may defer the requirement under subdivision (a)(3)(A) of this section if:
(i) The Division of Higher Education, in consultation with the Division of Workforce Services, determines that there was no employment position available that would reasonably enable the student to meet this requirement; or
(ii) Special circumstances as determined by the Division of Higher Education exist.
(C) After the period of deferral, the student shall begin or resume working in this state or become subject to repayment under subsection (b) of this section.
(b) The written agreement under subsection (a) of this section shall provide that the grant converts into a loan and the student shall repay the grant amount:
(1) On a pro rata basis at an interest rate and on a schedule as determined by the Division of Higher Education for each year the student does not reside in this state for three (3) consecutive years and become employed beginning within six (6) months after receiving an associate degree or a certification; or
(2) In its entirety at an interest rate and on a schedule as determined by the Division of Higher Education if the recipient does not comply with the written agreement under subsection (a) of this section.