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§ 7103. Early Childhood Education Professional Loan Forgiveness Program

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. Education

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 24 P.S. Education
Chapter 47. Early Childhood Education Professional Loan Forgiveness Act
24 P.S. § 7103
§ 7103. Early Childhood Education Professional Loan Forgiveness Program
Qualified applicants who are selected for the program in accordance with this act shall be eligible for payment by the agency of a portion of the debt incurred by the applicant through the agency-administered Guaranteed Student Loan Programs for the education necessary to successfully complete the specified bachelor's degree or associate's degree programs. For each calendar year that the applicant is a full-time professional in an approved Commonwealth child-care facility, the agency may forgive a proportional part of the applicant's loan so that the loan may be entirely forgiven over four years of full-time employment in an approved child-care facility. For a graduate with a bachelor's or associate's degree in the specified areas, no more than $2,500 shall be forgiven in any year, and no more than $10,000 shall be forgiven for any applicant. Payments shall be made in accordance with the procedures established by the agency. A loan forgiveness award shall not be made for a loan that is in default at the time of the application.

Credits

1993, Dec. 17, P.L. 487, No. 73, § 3, effective Jan. 1, 1994.
24 P.S. § 7103, PA ST 24 P.S. § 7103
Current through 2022 Regular Session Act 24. Some statute sections may be more current, see credits for details.
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