Bill > H3577

This bill expands the South Carolina Critical Needs Nursing Initiative by introducing new loan options for nursing students at different education levels. The bill establishes loan amounts ranging from $10,000 for licensed practical nurse (LPN) and nursing assistant (NA) diplomas to $40,000 for bachelor's degree nursing students without a prior associate's degree. Recipients are required to enter a contract agreeing to practice nursing in critical nursing shortage areas within the state for one year for each year of loan received. If they successfully complete this service requirement, the loan is considered fully paid. The contract includes penalties for non-compliance, such as repaying the loan with interest at the prime rate plus two percent, and may allow for payment deferral while working in critical needs areas. The purpose is to incentivize nursing students to work in underserved regions of South Carolina by providing financial support for their education and creating a mechanism to address nursing workforce shortages in critical geographic areas. The bill will take effect upon the Governor's approval.

Education

https://www.scstatehouse.gov/billsearch.php?billnumbers=3577&session=126&summary=B