Establishing a rural teacher shortage area loan forgiveness program and fund

This bill establishes a rural teacher shortage area loan forgiveness program to be administered by the college student aid commission to provide loan forgiveness for persons who are employed by a school district or accredited nonpublic school as teachers in high-demand areas. The department of education is directed to periodically conduct a survey of school districts, accredited nonpublic schools, and approved practitioner preparation programs to determine current high-demand areas. The bill defines “high-demand area” as a rural county designated by the department as a geographic area experiencing teacher shortages in specific content areas. “Rural county” means a county that does not include any urbanized area, less than percent of its residents are employed in another county that includes an urbanized area, and less than percent of persons employed in the county reside in another county that includes an urbanized area. “Urbanized area” means a geographic area with a population of 50,000 or more.0 grade scale, and be eligible for a federal educational loan. The loan does not come due until after the student graduates or leaves school. years. The loan must be repaid at an annual interest rate of percent, but the commission shall forgive percent of the loan and interest on the loan for each school year the loan recipient is employed as a full-time teacher by a school district or accredited nonpublic school in a high-demand area. The bill also establishes a rural teacher shortage area loan forgiveness fund in the state treasury to be administered by the commission. The fund consists of moneys appropriated by the general assembly and any other moneys received by the commission for deposit in the fund, including moneys repaid by loan recipients. Moneys in the fund carry forward to be continuously available for loan forgiveness under the program. The commission is directed to adopt administrative rules for purposes of administering the program.