The proposed bill establishes the Special Education Teacher Forgivable Loan Program Act, aimed at addressing the shortage of special education teachers in Nebraska. The Act outlines the creation of a forgivable loan program administered by the State Department of Education, which will provide financial assistance to eligible students pursuing certification as special education teachers. To qualify, students must be enrolled in an accredited institution in Nebraska, maintain good academic standing, and commit to teaching in Nebraska for a specified period after graduation. The program allows for up to twenty-five loans to be awarded each academic year per eligible institution.

The bill details the terms of the forgivable loans, including the requirement for students to enter a contract with the department before receiving funds. The loans can only be used for tuition after applying for federal and state financial aid. Upon graduation, students must begin teaching special education within one year and fulfill a teaching commitment of five consecutive years or the equivalent of the loan amount received. If students fail to comply with the contract terms, they may face repayment obligations with interest. Additionally, the State Board of Education is authorized to adopt rules and regulations to implement the program effectively.