AB 1223

This bill creates a forgivable loan program administered by the Higher Educational Aids Board to pay tuition and fees of University of Wisconsin System and technical college students committed to completing at least 10 years in a teaching, firefighting, or law enforcement career in this state. A student is generally eligible to receive a loan under the program if the student 1) is a resident of this state enrolled in a UW System institution or technical college and has made satisfactory academic progress, and 2) commits to pursuing a career in teaching, firefighting, or law enforcement in this state in a full-time capacity for the 10 years after finishing his or her training or program. HEAB’s loans to eligible students are limited to eight semesters for a baccalaureate program or four semesters for a program or firefighting training component in a technical college. HEAB must evenly allocate the funding for loans made under the loan forgiveness program to individuals seeking a career in, respectively, teaching, firefighting, and law enforcement. HEAB must defer repayment of loans awarded under the program while the loan recipient is enrolled as an eligible student and in each year after finishing the training or program if the recipient lives in this state and is employed in teaching, firefighting, or law enforcement in this state. If a loan recipient has lived in this state and been employed full-time in teaching, firefighting, or law enforcement for seven years after finishing his or her training or program, HEAB must forgive 50 percent of the loan. HEAB must forgive 100 percent of the loan if these requirements are satisfied for 10 years. Generally a loan recipient that does not satisfy these requirements must repay the loan at an annual interest rate of 5 percent. HEAB may promulgate rules to implement and administer the loan forgiveness program.