39.393 Nursing student loan program. - Wisconsin Statutes

39.393

39.393 Nursing student loan program.

39.393(1)

(1) The board shall establish a loan program to defray the cost of tuition, fees, and expenses for persons enrolled in any of the following:

39.393(1)(a)

(a) A program in this state that confers an associate degree in nursing.

39.393(1)(b)

(b) A program in this state that confers a bachelor's degree in nursing.

39.393(1)(c)

(c) A program in this state that confers a 2nd degree that will make the person eligible to sit for examination under s. 441.04 or 441.10.

39.393(1)(d)

(d) A program in this state that confers a diploma in nursing.

39.393(1)(e)

(e) A program in this state that confers a master's degree in nursing.

39.393(1)(f)

(f) A program in this state that confers a doctoral degree in nursing.

39.393(2)

(2) Beginning in the 2002-03 fiscal year, the board shall make loans under this section from the appropriation under s. 20.235 (1) (cm). The maximum amount of loan for a person during any fiscal year is $3,000. The maximum that a person may receive under this section is $15,000. The board shall ensure that the terms of the loan do not require a loan recipient to repay the loan while the recipient is enrolled in a program under sub. (1).

39.393(3)

(3) After the recipient of a loan under sub. (1) has completed the program described in sub. (1), the board shall forgive 25% of the loan's principal and interest after the first full year and 25% of the loan's principal and interest after the 2nd full year that the recipient has been employed full time in this state as a nurse or nurse educator. The board may forgive loans on a prorated basis for persons who are employed less than full time.

39.393(4)

(4) The board shall promulgate rules to implement and administer this section.

39.393 - ANNOT.

History: 2001 a. 16; 2005 a. 368.