SCS/SBs 388 & 428 - This act establishes the Missouri Critical Teacher Forgivable Loan Program, to provide undergraduate and graduate scholarships for eligible students entering college teaching programs leading to a degree in a critical teacher shortage area.

To be eligible, an individual must be a full-time student in an upper division undergraduate or graduate program which leads to certification as a teacher, and which is approved by the Department of Elementary and Secondary Education. Students must declare their intent to teach in a public elementary or secondary school in Missouri in a critical teacher shortage area, as identified by the State Board of Education, and maintain certain academic standards during their undergraduate or graduate work.

Undergraduate forgivable loans may be awarded for 2 years, not to exceed $4,000 per year, or for up to 3 years for programs requiring a fifth year of instruction to obtain initial teaching certification. Graduate forgivable loans may be awarded for 2 years, not to exceed $8,000 per year.

Loans may be forgiven based on years of teaching service: for each full year of eligible teaching service, $4,000 in loan principal plus accrued interest may be forgiven; for each full year of eligible teaching service at a high population density, low-economic condition urban school, or at a low population density, low-economic condition rural school, $8,000 in loan principal plus accrued interest may be forgiven. The State Board of Education is to adopt rules to establish repayment schedules. Forgivable loans must be repaid within 10 years of the completion of the program of studies. The amount of the loan plus annual interest of 8% must be repaid if a student does not teach in a public school as required by the conditions of the forgivable loan program. The State Board of Education, in coordination with local school districts, is to develop rules to implement the provisions of this bill.

This act is similar to HB 563. Similar provisions are included in the perfected version of SS/SCS/SBs 347 et al.
OTTO FAJEN