SECOND REGULAR SESSION
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES LOEHNER (Sponsor), SATER, FISHER, JONES AND STORCH (Co-sponsors).
Read 1st time January 4, 2006 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To repeal sections 335.212 and 335.233, RSMo, and to enact in lieu thereof two new sections relating to the nursing student loan program.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 335.212 and 335.233, RSMo, are repealed and two new sections enacted in lieu thereof, to be known as sections 335.212 and 335.233, to read as follows:
335.212. As used in sections 335.212 to 335.242, the following terms mean:
(1) "Board", the Missouri state board of nursing;
(2) "Department", the Missouri department of health and senior services;
(3) "Director", director of the Missouri department of health and senior services;
(4) "Eligible student", a resident who has [made application to be] been accepted as a full-time student in a formal course of instruction leading to an associate degree, a diploma, a bachelor of science, or a master of science in nursing or leading to the completion of educational requirements for a licensed practical nurse;
(5) "Participating school", an institution within this state which is approved by the board for participation in the professional and practical nursing student loan program established by sections 335.212 to 335.242, having a nursing department and offering a course of instruction based on nursing theory and clinical nursing experience;
(6) "Qualified applicant", an eligible student approved by the board for participation in the professional and practical nursing student loan program established by sections 335.212 to 335.242;
(7) "Qualified employment", employment on a full-time basis in Missouri in a position requiring licensure as a licensed practical nurse or registered professional nurse in any hospital as defined in section 197.020, RSMo, or public or nonprofit agency, institution, or organization located in an area of need as determined by the department of health and senior services. Any forgiveness of such principal and interest for any qualified applicant engaged in qualified employment on a less than full-time basis may be prorated to reflect the amounts provided in this section;
(8) "Resident", any person who has lived in this state for one or more years for any purpose other than the attending of an educational institution located within this state.
335.233. The department shall establish schedules for repayment of the principal and interest on any financial assistance made under the provisions of sections 335.212 to 335.242. Interest at the rate of nine and one-half percent per annum shall be charged on all financial assistance made under the provisions of sections 335.212 to 335.242, but [twenty-five percent of] the interest and principal of the total financial assistance granted to a qualified applicant at the time of the successful completion of a nursing degree, diploma program or a practical nursing program shall be forgiven [for each year of] through qualified employment.
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