LRB-3944/1
GMM:rs&cmh:pg
2001 - 2002 LEGISLATURE
January 8, 2002 - Introduced by Senators George, Robson and Grobschmidt,
cosponsored by Representatives
Morris-Tatum, Turner, Lassa, Walker,
Carpenter, Miller, Plouff, Urban, Pettis, Underheim, La Fave and
Staskunas. Referred to Committee on Universities, Housing, and
Government Operations.
SB370,1,4
1An Act to amend 39.393 (2) and 39.393 (3) of the statutes;
relating to: setting
2certain priorities that the higher educational aids board must observe in
3awarding loans under the nursing student loan forgiveness program and
4forgiveness of the principal and interest of a loan awarded under that program.
Analysis by the Legislative Reference Bureau
Under current law, $450,000 is appropriated in fiscal year 2002-03 for the
higher educational aids board (HEAB) to make loans to defray the cost of tuition,
fees, and expenses for persons enrolled in a program in this state that confers an
associate degree, a bachelor's degree, or a diploma, in nursing or that confers a
second degree that will make the person eligible to take the nursing licensure
examination. The maximum amount of loans that a person may receive during a
fiscal year is $3,000, and the maximum total amount of loans that a person may
receive is $15,000. After the loan recipient has completed the program, HEAB must
forgive 25% of the loan's principal and interest after the first full year, and 25% of
the loan's principal and interest after the second full year, that the loan recipient has
been employed full time in this state as a nurse.
This bill requires HEAB, to the extent possible, to make those loans to persons
who are likely to work in the nursing profession in this state upon completion of the
program and who demonstrate a financial need for the loan. The bill also requires
HEAB, in making the loans, to give priority to persons who are minority group
members and who reside in urban areas of this state that have unemployment rates
higher than the state average. In addition, the bill requires HEAB to forgive 50%
of the loan's principal and interest after the third full year that the loan recipient has
been employed full time in this state as a nurse.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB370,2,153
39.393
(2) Beginning in the 2002-03 fiscal year, the board shall make loans
4under this section from the appropriation
account under s. 20.235 (1) (cm).
To the
5extent possible, the board shall make loans under this section to persons who are
6likely to work in the nursing profession in this state upon completion of the program
7under sub. (1) and who demonstrate a financial need for the loan. In making loans
8under this section, the board shall give priority to persons who are minority group
9members, as defined in s. 560.036 (1) (f), and who reside in urban areas of this state
10that have unemployment rates higher than the state average. The maximum
11amount of
loan for a person all loans that a person may receive under this section 12during any fiscal year is $3,000. The maximum
total amount of all loans that a
13person may receive under this section is $15,000. The board shall ensure that the
14terms of the loan do not require a loan recipient to repay the loan while the recipient
15is enrolled in a program under sub. (1).
SB370,3,218
39.393
(3) After the recipient of a loan under sub. (1) has completed the
19program described in sub. (1), the board shall forgive 25% of the loan's principal and
20interest after the first full year
and, 25% of the loan's principal and interest after the
212nd full year
, and 50% of the loan's principal and interest after the 3rd full year that
1the recipient has been employed full time in this state as a nurse. The board may
2forgive loans on a prorated basis for persons who are employed less than full time.
