§ 10 §1019 — Nursing education loan repayment program

1.
Nursing education loan repayment program.
The nursing education loan repayment program is established for the purpose of increasing the number of nursing faculty in nursing education programs in the State.
2.
Criteria.
For an applicant to participate in the nursing education loan repayment program established under subsection 1, the applicant must:
3.
Nursing education loan repayment fund.
The nursing education loan repayment fund, referred to in this section as "the fund," is created as a nonlapsing, interest-earning, revolving fund to carry out the purposes of this subchapter.
4.
Administration.
The nursing education loan repayment program and the nursing education loan repayment fund are administered by the authority. The authority shall repay the loan of an applicant who meets the criteria in subsection 2 in the amount of up to $20,000 for a master's degree and up to $40,000 for a doctoral degree for full-time nursing faculty and in the amount of up to $10,000 for a master's degree and up to $20,000 for a doctoral degree for part-time nursing faculty. The authority may adopt rules to carry out the purposes of this subchapter. Rules adopted pursuant to this subsection are routine technical rules pursuant to Title 5, chapter 375, subchapter 2‑A.

Legislative History

PL 2005, c. 417, §1 (NEW). PL 2021, c. 483, Pt. FF, §§1, 2 (AMD). PL 2021, c. 635, Pt. CC, §§1, 2 (AMD). PL 2023, c. 412, Pt. CC, §§1, 2 (AMD).