Wis. Stat. § 39.40
Minority teacher loan program
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2019
As of January 1, 2011
(1) In this section “minority student" means a student who is any of the following: (a) A Black American. (b) An American Indian. (c) A Hispanic, as defined in s. 16.287 (1) (d) . (d) A person admitted to the United States after December 31, 1975, who is either a former citizen of Laos, Vietnam or Cambodia or whose ancestor was or is a citizen of Laos, Vietnam or Cambodia.
(1) In this section “minority student" means a student who is any of the following: (a) A Black American. (b) An American Indian or Alaskan native. (c) A Hispanic, as defined in s. 16.287 (1) (d) . (d) A person of Asian or Pacific Island origin. (e) A person whose ancestry includes 2 or more races.
(2) The board shall establish a loan program for minority students who meet all of the following requirements:
(a) Are registered as juniors or seniors, or hold a bachelor's degree and are registered as special students, in the University of Wisconsin System or in an accredited, private institution of higher education located in this state.
(b) Are enrolled in programs of study leading to licensure as a teacher and are not currently licensed as teachers.
(c) Meet academic criteria specified by the board.
(d) Agree to teach in a school district located in this state in which minority students constitute at least 29% of the membership or in a school district participating in the interdistrict pupil transfer program under s. 121.85 . In this paragraph, "membership" has the meaning given in s. 121.004 (5) .
(2m) Loans under sub. (2) shall be awarded to students registered at an eligible institution of higher education on the basis of the institution's participation in the loan program under this section or s. 36.25 (16) , 1993 stats., and the number of its students eligible for such loans. Loans awarded to recipients shall be disbursed directly to the eligible institutions of higher education.
(3) Loans under sub. (2) shall be made from the appropriation under s. 20.235 (1) (cr) . The board shall forgive 25% of the loan and 25% of the interest on the loan for each school year the recipient teaches in a school district described under sub. (2) (d) .
(2) The board shall establish a loan program for minority students who meet all of the following requirements:
(am) Are residents of this state enrolled at least half-time as sophomores, juniors, or seniors in an institution of higher education, as defined in 20 USC 1001 (a) and (b), located in this state.
(bm) Are enrolled in programs of study leading to a teacher's license in a discipline identified as a teacher shortage area for this state by the federal department of education.
(dm) Have a grade point average of at least 3.0 on a 4-point scale or the equivalent.
(2m) A student eligible for a loan under sub. (2) may be awarded loans of up to $10,000 annually for not more than 3 years, with a maximum of $30,000 in loans to a student under this section.
(3)
(a) Loans under sub. (2) shall be made from the appropriation under s. 20.235 (1) (cr) . Except as provided in par. (b) , loans under sub. (2) shall be repaid at an annual interest rate of 5 percent.
(b) The board shall forgive 25 percent of the loan and 25 percent of the interest on the loan for each school year the recipient satisfies all of the following:
1. The recipient is employed as provided in subd. 1m. by a public or private elementary or secondary school, or by a tribal school, as defined in s. 115.001 (15m) , located in a school district in this state in which minority students constitute at least 40 percent of the membership, as defined in s. 121.004 (5) .
1m. The recipient is employed as a full-time teacher in a high-demand area related to the recipient's discipline under sub. (2) (bm) .
2. The recipient receives a rating of proficient or distinguished on the educator effectiveness system or the equivalent in a school that does not use the educator effectiveness system.
(4) The board shall deposit in the general fund as general purpose revenue-earned all repayments of loans made under sub. (2) and the interest on the loans.
(4) The board shall deposit in the general fund as general purpose revenue-earned all repayments of loans made under sub. (2) and the interest on the loans.
(5) The board shall administer the repayment and forgiveness of loans made under s. 36.25 (16) , 1993 stats. The board shall treat such loans as if they had been made under sub. (2) .
(5) The board shall administer the repayment and forgiveness of loans made under s. 36.25 (16) , 1993 stats. The board shall treat such loans as if they had been made under sub. (2) .
Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.