168.600. Missouri critical teacher shortage forgivable loan program--eligibility requirements--amount of loan--repayment--rules. - Missouri Statutes

Missouri critical teacher shortage forgivable loanprogram--eligibility requirements--amount ofloan--repayment--rules.

168.600. 1. The Missouri critical teacher shortage forgivable loanprogram shall make undergraduate and graduate forgivable loans available,subject to appropriation, to eligible students entering programs of studythat lead to a degree in a teaching program in a critical teacher shortagearea.

2. To be eligible for a program loan, a candidate shall:

(1) Be a full-time student in an upper division undergraduate orgraduate level in a teacher training program approved by the Department ofEducation leading to certification as a teacher;

(2) Have declared an intent to teach, for at least the number ofyears for which a forgivable loan is received, in public elementary orsecondary schools of Missouri in a critical teacher shortage areaidentified by the state board of education;

(3) If applying for or renewing an undergraduate forgivable loan,have maintained a minimum cumulative grade point average of 2.5 on a 4.0scale for all undergraduate work;

(4) If applying for or renewing a graduate forgivable loan, havemaintained a minimum cumulative grade point average of 3.0 on a 4.0 scalefor all graduate work.

3. An undergraduate forgivable loan may be awarded for twoundergraduate years and shall not exceed four thousand dollars per year, orfor a maximum of three years for programs requiring a fifth year ofinstruction to obtain initial teaching certification.

4. A graduate forgivable loan may be awarded for two graduate yearsand shall not exceed eight thousand dollars per year.

5. The state board of education shall adopt by rule repaymentschedules and applicable interest rates. A forgivable loan shall be repaidwithin ten years of completion of a program of studies.

6. Credit for repayment of a forgivable loan pursuant to this sectionshall be in an amount not to exceed four thousand dollars in loan principalplus applicable accrued interest for each full year of eligible teachingservice. However, credit in an amount not to exceed eight thousand dollarsin loan principal plus applicable accrued interest shall be given for eachfull year of eligible teaching service completed at a high populationdensity, low-economic condition urban school or at a low populationdensity, low-economic condition rural school, as identified by the stateboard of education.

7. Any loan recipient who fails to teach in a public elementary orsecondary school in this state as specified in this section shall repay theloan plus interest accruing at eight percent annually.

8. Loan recipients may receive loan repayment credit for teachingservice rendered at any time during the scheduled repayment period.However, such repayment credits shall be applicable only to the currentprincipal and accrued interest balance that remains at the time therepayment credit is earned. No loan recipient shall be reimbursed forprevious payments of principal and interest.

9. The state board of education shall work with local schooldistricts to develop rules to implement this section.

10. The board is authorized to adopt those rules that are reasonableand necessary to accomplish the limited duties specifically delegatedwithin this section. Any rule or portion of a rule, as that term isdefined in section 536.010, RSMo, that is promulgated under the authoritydelegated in this section shall become effective only if it has beenpromulgated pursuant to the provisions of chapter 536, RSMo. This sectionand chapter 536, RSMo, are nonseverable and if any of the powers vestedwith the general assembly pursuant to chapter 536, RSMo, to review, todelay the effective date or to disapprove and annul a rule are subsequentlyheld unconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 1999, shall be invalid and void.

(L. 1999 H.B. 889 § 173.775)