2014 Indiana Code
TITLE 21. HIGHER EDUCATION
ARTICLE 13. OCCUPATIONAL SCHOLARSHIPS AND GRANTS
CHAPTER 10. TEACHER LOAN REPAYMENT PROGRAM AND FUND
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IC 21-13-10
Chapter 10. Teacher Loan Repayment Program and Fund
IC 21-13-10-1
"Critical shortage area"
Sec. 1. As used in this chapter, "critical shortage area" means a
geographic area determined annually by the department of education
established by IC 20-19-3-1 to have, or projected within the next
twelve (12) months to have, a shortage of licensed, full-time
elementary or high school teachers.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-2
"Fund"
Sec. 2. As used in this chapter, "fund" refers to the teacher loan
repayment fund established by section 3 of this chapter.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-3
Teacher loan repayment fund established; purpose; administration
Sec. 3. (a) The teacher loan repayment fund is established.
(b) The purpose of the fund is to attract qualified teachers who:
(1) graduated from an accredited Indiana high school after June
30, 2014, and either:
(A) were in the highest twenty percent (20%) of students in
their high school graduating classes; or
(B) received scores in the top twentieth percentile on the
SAT or ACT examination;
(2) graduated from a four (4) year postsecondary educational
institution with at least a 3.5 grade point average on a 4.0 scale
or its equivalent; and
(3) teach, for at least three (3) consecutive years in public
schools in Indiana:
(A) science, technology, engineering, mathematics, or
special education classes; or
(B) in a critical shortage area;
by granting loan repayment assistance authorized under this chapter
to eligible applicants.
(c) The fund consists of appropriations to the fund and gifts,
grants, devises, or bequests made to the state to achieve the purposes
of the fund.
(d) The fund shall be administered by the commission. The
expenses of administering the fund shall be paid from money in the
fund.
(e) Loan repayment assistance payments shall be made from the
fund by the treasurer of state upon a warrant issued by the auditor of
state in accordance with rules adopted by the commission.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-4
Commission to consider applications
Sec. 4. The commission shall receive and consider all applications
for loan repayment assistance received from qualified teachers with
outstanding guaranteed student loans made, issued, or guaranteed
under a program authorized by Title IV of the federal Higher
Education Act of 1965 (20 U.S.C. 1070 et seq.).
As added by P.L.46-2014, SEC.4.
IC 21-13-10-5
Teacher qualifications for loan repayment; requirements
Sec. 5. (a) To qualify for loan repayment assistance for student
loans under this chapter, an applicant must:
(1) hold a license to teach under IC 20-28-5;
(2) agree in writing to the employment requirements set forth in
section 7 of this chapter; and
(3) meet any additional criteria established by the commission.
(b) At the end of the third consecutive school year in which a
teacher who qualifies under subsection (a) has taught, the
commission shall pay directly to the financial institution that holds
the qualified teacher's student loans an amount not to exceed the
lesser of:
(1) the total principal and interest of the guaranteed student
loans owed by the teacher at the end of the third year; or
(2) an amount determined by the commission based on the
funds appropriated to the program;
which must be used to reduce the principal and interest on a
guaranteed student loan owed by that qualified teacher.
(c) The commission may pay a qualified teacher's student loans
under subsection (b) only if the following requirements are met:
(1) The qualified teacher received the student loans for an
undergraduate degree that was necessary for either the subject
area in which the qualified teacher teaches or for the qualified
teacher to receive a teaching license.
(2) The qualified teacher's repayment of the loans is current at
the time the commission makes the payment under subsection
(b).
The requirements under this subsection are in addition to the
requirements set forth in section 7 of this chapter.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-6
Loan repayment application form
Sec. 6. A qualified teacher must apply for a loan repayment on a
form supplied by the commission. The commission shall consider
each application and determine the eligibility of the applicant for the
loan repayment assistance.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-7
Requirement for contract; conditions
Sec. 7. (a) Before being granted loan repayment assistance under
this chapter, a teacher must:
(1) apply for the loan repayment assistance not later than
twenty-four (24) months after graduating from a postsecondary
educational institution; and
(2) enter into a contract with the commission agreeing to the
terms and conditions upon which the loan repayment assistance
will be granted to the teacher.
(b) As a condition of being granted loan repayment assistance
under this chapter, a teacher must agree to employment for a period
of at least three (3) consecutive years as a licensed teacher in a public
school in Indiana in science, technology, engineering, mathematics,
or special education, or in a critical shortage area. The teacher is not
required to teach at the same public school for three (3) consecutive
years.
(c) Service rendered by a teacher in a public school before the
teacher becomes a participant in the program may not be considered
to have fulfilled the employment commitment required by subsection
(b).
As added by P.L.46-2014, SEC.4.
IC 21-13-10-8
Eligibility for repayment only if appropriation has been made
Sec. 8. A teacher is eligible to receive loan repayment assistance
under this chapter only if an appropriation has been made to carry
out the specific purposes of this chapter.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-9
Records
Sec. 9. The commission shall maintain complete and accurate
records in implementing the fund, including records of the following:
(1) The receipt, disbursement, and uses of money from the fund.
(2) The number of applications for loan repayment assistance.
(3) The number and amount of loans for which loan repayment
assistance has been provided by the department.
(4) Other pertinent information requested by the commission.
As added by P.L.46-2014, SEC.4.
IC 21-13-10-10
Rules
Sec. 10. The commission may adopt rules under IC 4-22-2
necessary to carry out this chapter, including rules governing the
enforcement of any employment requirements.
As added by P.L.46-2014, SEC.4.
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