39.32(2)(a)
(a) Make and authorize loans to be made to resident students who have satisfactory academic records, who need financial assistance and who are desirous of attending institutions of higher education, when such loans are to assist them in meeting expenses of post-high school education in accordance with this section.
39.32(2)(b)
(b) Establish standards and methods for determining the amount of loans, rates of interest, financial need and other administrative procedures consistent with
P.L. 89-329 and
P.L. 89-287.
39.32(3)
(3) The board may make and authorize loans to be made to students if:
39.32(3)(a)
(a) The student is enrolled or accepted for enrollment in an institution of higher education.
39.32(3)(b)
(b) The student's eligibility for a loan is certified to the board by the institution of higher education in which the student is enrolled or has been accepted for enrollment.
39.32(3)(c)
(c) The student has a satisfactory academic record.
39.32(3)(e)
(e) The student needs financial assistance.
39.32(3)(g)
(g) The student is not in default on any previous loan or the board has determined that the student has made satisfactory arrangements to repay the defaulted loan.
39.32(4)
(4) Loans may be made to minors and minority shall not be a defense to the collection of the debt.
39.32(5)
(5) The board may collect any loans made or authorized to be made by the board pursuant to this section or made prior to July 1, 1966, under s.
49.42, 1963 stats.
39.32(6)
(6) The board shall satisfy the loan of any student who obtained a loan under this section or under s.
39.023, 1965 stats., between July 1, 1966, and December 15, 1968, if the student dies after July 1, 1966, and before completing repayment of the loan, and shall write off the balance of principal and interest owing on the loan on the date that the board received confirmation of the student's death. Obligation to repay such a loan shall terminate on the date of the student's death and any payments made on the loan to the board after the date of the student's death shall be refunded to the payor or the payor's heirs or personal representative upon receipt by the board of an application for refund.
39.32(7)
(7) The board may write off defaulted student loans made pursuant to this section or made prior to July 1, 1966, under s.
49.42, 1963 stats., from moneys other than advances from the investment board originally appropriated for student loans, and from moneys other than moneys resulting from assignment, sale or conveyance of student loans.
39.32(8)
(8) The board may use up to $150,000 annually of student revenue bond proceeds for the purpose of consolidating loans for needy students who have a state direct loan and one or more federally guaranteed student loans from one or more private lenders.
39.32(10)(a)(a) The board may enter into contractual agreements with lenders in this state and lenders in other states which grant loans to residents of this state, and with institutions and agencies wherein the board may provide and furnish to such lenders, institutions and agencies administrative services related to the operation of any programs involving the granting of loans to students including but not limited to any and all services and functions related to the granting, administering and collecting of any loans made to students.
39.32(10)(b)
(b) The board shall have all powers that are reasonably appropriate to the provision of such services and the performance of such contracts and may include charges or fees to be paid by the lenders, institutions and agencies to the board for the provision of such administrative services or any services or activities related to the collection of any student loans for which the board may become responsible by operation of law or by contractual agreements under this paragraph, but such charges or fees, before being instituted by the board, shall be approved by the secretary of administration.
39.32(11)(a)(a) In lieu of the procedure under
ch. 812, the board, on behalf of the corporation under
s. 39.33, or the corporation, on its own behalf, may certify the department of administration to deduct money from a state employee's earnings. The board shall specify an amount, not to exceed 25% of the employee's disposable earnings, as defined in
s. 812.30 (6), to be deducted on a continuing basis until the amount certified by the board or corporation has been paid. The department of administration shall remit moneys deducted to the board or the corporation.
39.32(11)(b)
(b) The procedure in this section may be used only if the amount owed to the board or corporation is reduced to a judgment. At least 30 days prior to certification, the board or corporation shall notify the debtor under
s. 879.05 (2) or
(3) of the intent to certify the debt to the department of administration and of the debtor's right to a contested case hearing before the board under
s. 227.42. If the debtor requests a hearing within 20 days after receiving notice, the board shall notify the department of administration which shall not make deductions under
par. (a) until a decision is reached under
s. 227.47 or the case is otherwise concluded.
39.32(11)(c)
(c) The department of administration shall prescribe the manner and form for certification of debts by the board or corporation under this subsection.
39.32 Annotation
The legislature may direct the public land commissioners to invest monies from the sale of public lands in student loans under s. 39.32, but it may not direct a specific investment. 65 Atty. Gen. 28.
39.325
39.325
Wisconsin health education loan program. 39.325(1)(1) There is established, to be administered by the board, a Wisconsin health education loan program under
P.L. 94-484, on July 29, 1979, in order to provide financial aid to medical and dentistry students enrolled in the University of Wisconsin Medical School, the Medical College of Wisconsin or Marquette University School of Dentistry.
39.325(2)
(2) The board shall lend to students who qualify under
sub. (1) any moneys appropriated or authorized through the issuance of revenue obligations. The board shall require a student borrowing moneys under this section to pay interest while in medical or dental school and during his or her residency training at the rate of at least 3% per year on the sum of the principal amount of the student's obligation and the accumulated interest, unless federal law provides otherwise as a condition of guaranteeing the loan. Principal and interest payable on maturing revenue obligations shall, when necessary, be paid from funded reserves, authorized under
subch. II of ch. 18, or from moneys made available under
chapter 20, laws of 1981, section 2022 (1).
39.325(3)
(3) The board shall promulgate rules and establish standards and methods of determining the amounts of loans, rates of interest and other administrative procedures consistent with
P.L. 94-484, on July 29, 1979. The rates of interest shall be set as low as possible, but shall remain sufficient to cover all costs of the program under this section.
39.33
39.33
Guaranteed student loan program. 39.33(1)
(1) The board may organize and maintain a nonstock corporation under
ch. 181 to provide for a guaranteed student loan program in this state under
P.L. 89-287 and
P.L. 89-329 as may from time to time be amended. The board may make use of and pay for the use of the facilities and services of such corporation.
39.33(2)
(2) The board may provide administrative services for the nonstock corporation with which the board has entered into a contractual agreement for purposes of providing for a guaranteed student loan program in this state. Services provided under this section shall be in accordance with the decision of the board as to the type and scope of services requested and the civil service range of any employee assigned to them.
39.33(3)
(3) The board or the legislature or any person delegated by the legislature may inspect and examine or cause an inspection and examination of all records relating to all programs that are, or are to be, administered under contractual agreement between the board and the corporation.
39.33 History
History: 1995 a. 27;
1997 a. 27.
39.34
39.34
Medical student loan program. Notwithstanding s.
39.34, 1991 stats., the board shall terminate on August 12, 1993, any obligation to repay a loan awarded under this section.
39.35
39.35
Repayment of scholarships for teachers in educationally disadvantaged areas. Notwithstanding s.
39.35, 1969 stats., and s.
39.35, 1991 stats., the board shall terminate on August 12, 1993, any obligation to repay a student aid award made under this section.
39.36
39.36
Repayment of stipends for teachers of the handicapped. Notwithstanding s.
39.36, 1969 stats., s.
39.37 (3) (b), 1969 stats., and s.
39.36, 1991 stats., the board shall terminate on August 12, 1993, any obligation to repay a stipend awarded under this section.
39.37
39.37
Student loan funding. 39.37(1)
(1) Student loans made or authorized to be made under
s. 39.32 may be funded from the proceeds of revenue obligations issued subject to and in accordance with
subch. II of ch. 18.
39.37(2)
(2) There is created a separate nonlapsible trust fund designated the student loan repayment fund consisting of all revenues received in repayment of student loans funded under this section, and any other revenues dedicated to it by the board. The board may pledge revenues received or to be received by the fund to secure revenue obligations issued under this section, and shall have all other powers necessary and convenient to distribute the proceeds of the revenue obligations and loan repayments in accordance with
subch. II of ch. 18.
39.37(3)
(3) All student loans funded with revenue obligations issued under this section shall be fully guaranteed as to repayment of principal and interest from among a nonstock corporation organized under
s. 39.33 (1), the United States, its agencies or instrumentalities. The board may enter into agreements necessary to affect this guaranty.
39.37(4)
(4) Revenue obligations issued under this section shall not exceed $295,000,000 in principal amount, excluding obligations issued to refund outstanding revenue-obligation notes.
39.37(5)
(5) Except as may otherwise be expressly provided in resolutions authorizing the issuance of revenue obligations, each issue of revenue obligations shall be on a parity with every other revenue obligation issued under this section, payable in accordance with
subch. II of ch. 18, subject only to any agreements with the holders of particular revenue obligations pledging any particular receipts or revenues.
39.374
39.374
Wisconsin health education loan program funding. 39.374(1)(1) Loans made or authorized to be made under
s. 39.325 may be funded from the proceeds of revenue obligations issued subject to and in accordance with
subch. II of ch. 18.
39.374(2)
(2) All revenues received in repayment of loans funded under this section or loans financed from moneys made available under
chapter 20, laws of 1981, section 2022 (1), shall be deposited in the general fund.
39.374(3)
(3) All loans funded with revenue obligations issued under this section shall be fully guaranteed as to repayment of principal and interest by the United States, its agencies or instrumentalities. The board may enter into agreements necessary to effect this guaranty.
39.374(4)
(4) Revenue obligations issued under this section shall not exceed $92,000,000 in principal amount, excluding obligations issued to refund outstanding revenue-obligation bonds and notes.
39.374(5)
(5) Except as may otherwise be expressly provided in resolutions authorizing the issuance of revenue obligations, each issue of revenue obligations shall be on a parity with every other revenue obligation issued under this section, payable in accordance with
subch. II of ch. 18, subject only to any agreements with the holders of particular revenue obligations pledging any particular receipts or revenues.
39.38
39.38
Indian student assistance. 39.38(1)
(1) There is established, to be administered by the board, a grant program to assist those Indian students who are residents of this state to receive a higher education.
39.38(2)
(2) Grants under this section shall be based on financial need, as determined by the board. The maximum grant shall not exceed $2,200 per year, of which not more than $1,100 may be from the appropriation under
s. 20.235 (1) (k). State aid from this appropriation may be matched by a contribution from a federally recognized American Indian tribe or band that is deposited in the general fund and credited to the appropriation account under
s. 20.235 (1) (gm). Grants shall be awarded to students for full-time or part-time attendance at any accredited institution of higher education in this state. The board may not make a grant under this section to a student whose name appears on the statewide support lien docket under
s. 49.854 (2) (b), unless the student provides to the board a payment agreement that has been approved by the county child support agency under
s. 59.53 (5) and that is consistent with rules promulgated under
s. 49.858 (2) (a). Grants shall be renewable for up to 5 years if a recipient remains in good academic standing at the institution that he or she is attending.
39.38 Cross-reference
Cross Reference: See also ch.
HEA 6, Wis. adm. code.
39.39
39.39
Nursing student stipend loans. 39.39(1)(a)(a) There is established, to be administered by the board, a stipend loan program for resident students, including registered nurses, who are:
39.39(1)(a)1.
1. Enrolled in the 2nd year in a program leading to an associate degree in nursing in a technical college.
39.39(1)(a)2.
2. Enrolled as juniors in a program leading to a bachelor's degree in nursing in this state.
39.39(1)(a)3.
3. Enrolled as 3rd year students in a program leading to a diploma in nursing in this state.
39.39(1)(a)4.
4. Enrolled as seniors in a program leading to a bachelor's degree in nursing in this state.
39.39(1)(a)5.
5. Enrolled in a program leading to a master's degree in nursing in this state and who intend to teach nursing at an institution of higher education located in this state.
39.39(2)(b)
(b) Promulgate rules to administer this section, including rules establishing loan amounts and the criteria and procedures for loan forgiveness and for selecting loan recipients. Loan recipients shall be selected on the basis of financial need, as determined by the board, using the needs analysis methodology used under
s. 39.435.
39.39(3)
(3) Beginning in the 1991-92 fiscal year, $15,000 annually shall be awarded under
sub. (1) (a) 5. for stipend loans.
39.39(4)
(4) The board may not make any original stipend loans under this section.
39.39 Cross-reference
Cross Reference: See also ch.
HEA 8, Wis. adm. code.
39.393
39.393
Nursing student loan program. 39.393(1)
(1) The board shall establish a loan program to defray the cost of tuition, fees, and expenses for persons enrolled in any of the following:
39.393(1)(a)
(a) A program in this state that confers an associate degree in nursing.
39.393(1)(b)
(b) A program in this state that confers a bachelor's degree in nursing.
39.393(1)(c)
(c) A program in this state that confers a 2nd degree that will make the person eligible to sit for examination under
s. 441.04 or
441.10.
39.393(1)(d)
(d) A program in this state that confers a diploma in nursing.
39.393(1)(e)
(e) A program in this state that confers a master's degree in nursing.
39.393(1)(f)
(f) A program in this state that confers a doctoral degree in nursing.
39.393(2)
(2) Beginning in the 2002-03 fiscal year, the board shall make loans under this section from the appropriation under
s. 20.235 (1) (cm). The maximum amount of loan for a person during any fiscal year is $3,000. The maximum that a person may receive under this section is $15,000. The board shall ensure that the terms of the loan do not require a loan recipient to repay the loan while the recipient is enrolled in a program under
sub. (1).
39.393(3)
(3) After the recipient of a loan under
sub. (1) has completed the program described in
sub. (1), the board shall 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 2nd full year that the recipient has been employed full time in this state as a nurse or nurse educator. The board may forgive loans on a prorated basis for persons who are employed less than full time.
39.393(4)
(4) The board shall promulgate rules to implement and administer this section.
39.393 History
History: 2001 a. 16;
2005 a. 368.
39.395
39.395
Teacher education loan program. 39.395(1)
(1) The board shall establish a loan program to defray the cost of tuition for persons enrolled in a teacher education program offered by the Milwaukee Teacher Education Center, a nonstock, nonprofit corporation organized under
ch. 181. Loans shall be made from the appropriation under
s. 20.235 (1) (cu).
39.395(2)(a)(a) After the recipient of the loan under
sub. (1) has completed the teacher education program, the board shall forgive 50% of the loan and 50% of the interest on the loan for each school year that the recipient of the loan is employed as a full-time teacher in the school district operating under
ch. 119. The board shall deposit in the general fund as general purpose revenue-earned all repayments of the loans made under
sub. (1) and the interest on the loans.
