Recipients of the Hoffman LARP are eligible to receive a monthly or annual payment. A recipient is eligible for the monthly loan repayment option under the following conditions: The recipient applies to a federal loan forgiveness program; The recipient notifies the Office of Student Financial Assistance (OSFA) each year in writing by the designated deadline, with accompanying documentation; OSFA verifies the recipient’s employment and lender verifications; OSFA issues a monthly check co-payable to the recipient and their lender, not to exceed 12 payments; The check shall be issued on or before the recipient’s monthly due date as assigned by their lender, if possible; The recipient’s monthly payment amount shall be a portion of the total annual award amount awarded to the student; The recipient shall pay any amount owed the lender which is not covered by the monthly payment amount; and The recipient shall notify OSFA if they receive other loan repayment assistance. A recipient who is not in a federal loan forgiveness program or a recipient that applies to a federal loan forgiveness program and declines to receive a monthly repayment option shall receive an annual loan repayment under the following conditions: OSFA shall verify the recipient’s employment and lender verification; OSFA shall issue an annual check co-payable to the recipient and their lender; and The recipient shall endorse the check and forward it to the lender. If a recipient fails to notify OSFA that they receive other loan repayment assistance, their award shall be canceled.