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House approves $15,000 teacher loan program with forgiveness schedule
Summary
The House passed first‑substitute House Bill 416 to create a $15,000 low‑interest loan for new teachers with partial forgiveness after five years and full forgiveness after 10; the measure passed 45‑27 and will go to the Senate.
Representative Lynn Hemingway, sponsor of the first substitute to House Bill 416, said the bill is designed to help retain new teachers by offering low‑cost mortgage loans of $15,000 to teachers in their first five years. "If they stay in the school district and teach for 5 years, we would forgive $5,000 of the loan," Hemingway said. "If they stay in the school…
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