§12527.__Teachers for Critical and Qualifying Areas Fund

The Teachers for Critical and Qualifying Areas Fund, referred to in this chapter as the "fund," is created under the jurisdiction of the department as a nonlapsing, interest-earning, revolving fund to carry out the purposes of this chapter.__Any unexpended balance in the fund carries over for continued use under this chapter.__The department may receive, invest and expend, on behalf of the fund, money from gifts, grants, bequests, loans and donations in addition to money appropriated or allocated by the State.__Money received by the department on behalf of the fund must be used for the designated purpose.

§12528.__Rules

The commissioner shall adopt rules to carry out the purposes of this chapter.__Rules adopted pursuant to this chapter are major substantive rules pursuant to Title 5, chapter 375, subchapter II-A.

Sec. 2. Effective date. This Act takes effect for school years beginning on or after August 15, 2000.

SUMMARY

This bill establishes the Teachers for Critical and Qualifying Areas Program to provide for the repayment of student loans to teachers who are hired in schools that are faced with a shortage of teachers in certain academic areas. Once the Commissioner of Education makes the determination that a school is a critical area school or qualifying area school, a teacher hired by that school to work in the underserved academic area is eligible for repayment of student loans incurred for postsecondary education. A teacher working in a critical area school who works for 4 years in the school is eligible to have 100% of the education loans repaid; a teacher who works in a qualifying area school for 4 years is eligible to have 50% of the education loans repaid.