Financial support provided to an applicant who is chosen by the three Nevada State Commissioners to receive such support from the Western Interstate Commission for Higher Education must be provided in the form of a support fee. Except as otherwise provided in NRS 397.0617, 25 percent of the support fee is a loan that the recipient must repay with interest pursuant to NRS 397.063 or 397.064, as appropriate. Seventy-five percent of the support fee is a stipend that the recipient is not required to repay, except as otherwise provided in NRS 397.0653.
(Added to NRS by 1995, 355; A 1997, 946; 2003, 939; 2015, 1507)