Sec 15-1782. Mathematics, science, special education and elementary education teacher student loans; requirements; report

A. The commission may grant loans from the mathematics, science and special education teacher student loan fund established by section 15-1784 to defray tuition, instructional materials and mandatory fees of the education of students who are pursuing a teaching degree at a qualifying postsecondary institution and who are deemed qualified by the commission to receive these loans. Loans shall be granted on such terms and conditions as may be imposed by the commission and shall be distributed on a first come, first served basis.

B. The commission shall grant loans to qualified applicants who agree to provide instruction in the area of mathematics, science or special education in a public school in this state or in elementary education in a public school that is located in a geographic area in this state that is experiencing a shortage of teachers, as determined by the state board of education. The board shall allocate no more than twenty-five per cent of the annual amount appropriated for loans to applicants who agree to provide instruction in elementary education.

C. The loans granted by the commission shall be used to cover the costs of tuition and mandatory fees for each loan recipient and may also defray the cost of instructional materials, but shall not exceed seven thousand dollars each year, excluding all grants, scholarships and tuition benefits such as military, tribal and employee grants, scholarships and benefits.

D. The commission shall adopt policies for screening qualified applicants based on ability and financial need, including requiring all applicants to complete a free application for student federal aid.

E. The commission shall grant loans on the terms and conditions the commission imposes. The commission shall establish procedures for the timely repayment of loans plus interest at a rate determined by the commission. The commission is responsible for the collection of loan repayments.

F. The commission may partner with qualifying postsecondary institutions to administer these loans. The commission shall provide initial public notice of the availability of the loans and collect the application forms directly from each qualified applicant. The commission shall forward a request for verification of attendance, satisfactory academic progress, financial need and enrollment in a qualified program to the institution.

G. On or before December 1 of each year, the commission shall submit an approved report to the governor, the speaker of the house of representatives, the president of the senate and the joint legislative budget committee. The commission shall provide a copy of this report to the secretary of state. The report shall include the number of applicants, the number of loan recipients, the qualifying postsecondary institution each loan recipient attends, the name of the school at which each loan recipient is employed, the number of good cause repayment exceptions granted by the commission, the reason for each good cause exception granted and teacher retention data. The commission shall collect and maintain data on the retention of mathematics, science and special education teachers who received loans pursuant to this article. The commission shall collect this data for at least five years after each loan recipient completes the recipient's service commitment.