74:05:08:12.03.  Affordability criteria to determine principal forgiveness eligibility. All applicants will be awarded points to determine principal forgiveness eligibility as follows: five points if an applicant's median household income is less than or equal to ninety-five percent of the statewide median household income; three points if an applicant's median household income is less than or equal to one hundred and five percent of the statewide median household income and greater than ninety-five percent of the statewide median household income; one point if the applicant's 2020 census population is less than the applicant's 2010 census population; and one point if an applicant's county unemployment rate is greater than the statewide unemployment rate. If the boundaries of an applicant are located in more than one county, the unemployment rate of the county with the largest percentage of the applicant's population will be used. Applicants must receive a minimum of five points to be eligible for principal forgiveness.

    For the purposes of this section, the term, unemployment rate, means the 2021 average unemployment rate for a county or state, as applicable, as determined by the South Dakota Department of Labor and Regulation, Labor Market Information Center.

    Source: 41 SDR 173, effective May 11, 2015; 49 SDR 100, effective May 22, 2023.

    General Authority: SDCL 46A-1-60.2.

    Law Implemented: SDCL 46A-1-60.1 to 46A-1-60.3, inclusive.

    Note: The 2021 average unemployment rate for a county or state is available at no cost over the internet at https://danr.sd.gov/Funding/EnvironmentalFunding/docs/2020_MHI.xlsx