Bill > LB408

This bill establishes the Special Education Teacher Forgivable Loan Program to address teacher shortages in Nebraska, specifically in special education. The program will provide forgivable loans to eligible students enrolled in teacher education programs at Nebraska colleges or universities who are seeking special education certification. Eligible students must be U.S. citizens or eligible noncitizens, high school graduates, and enrolled in good standing at a state college or University of Nebraska. The department can award up to 25 forgivable loans per academic year at each eligible institution, which will cover remaining tuition after other financial aid. Recipients must sign a contract agreeing to begin teaching special education in a Nebraska elementary or secondary school within one year of graduation and teach for five consecutive years (or the equivalent number of years they received loans). The loan will be forgiven at a rate of 20% per year of teaching, with full forgiveness after five years of compliance. If a student fails to meet the contract terms and does not receive a deferment, they must repay the loan balance with 5% simple interest, which will be credited to the state's General Fund. The State Board of Education will have the authority to create rules and regulations for implementing the program.