Bill > SB501

This bill establishes a new veterinary loan repayment grant program, administered by the Higher Educational Aids Board, to help veterinarians in rural counties repay their educational loans. To be eligible, an individual must be in their final year of veterinary school or have graduated within the last seven years, have at least $25,000 in student loan debt for their veterinary education, and secure full-time employment as a veterinarian in a rural county for at least one year, with at least 50% of their work focused on farm animals. The grant can cover up to the total amount of educational debt, with annual payments capped at $25,000, for a maximum total award of $100,000. Crucially, this bill also exempts any money received from this grant program from state income taxes, meaning recipients will not have to pay taxes on the loan repayment assistance they receive, and this provision applies to individuals graduating from veterinary school in 2025 or later.

Budget and Finance, Education

https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb501