Bill > LD1225

This bill modifies the Nursing Education Loan Repayment Program in Maine to expand the types of educational loans that qualify for repayment. Previously, the program only covered loans for master's or doctoral nursing degrees, but now it will also include loans for associate or bachelor's degrees of any kind. The Finance Authority of Maine will now repay up to $20,000 in loans for full-time nurses and up to $10,000 for part-time nurses who have education loans related to an associate or bachelor's degree. This change aims to provide more financial support to nurses at different stages of their educational journey, potentially making nursing education more accessible and helping to address nursing workforce needs by offering loan repayment incentives across a broader range of educational backgrounds. The bill maintains the existing higher loan repayment amounts for master's and doctoral degree holders, with full-time nursing faculty eligible for up to $40,000 and part-time nursing faculty eligible for up to $20,000 in loan repayments for advanced degrees.

Education

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1225&snum=132