The proposed bill establishes the Special Education Teacher Forgivable Loan Program Act, aimed at addressing the shortage of special education teachers in Nebraska's elementary and secondary schools. 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 not-for-profit college or university in Nebraska, maintain good academic standing, and commit to teaching in the state for a specified period after graduation.

Under the program, eligible students can receive forgivable loans to cover in-state tuition costs, with the potential for up to twenty-five loans awarded per academic year at each eligible institution. The loans are contingent upon the students entering a contract with the department, which includes terms such as teaching special education for five consecutive years after graduation or an equivalent number of years based on the loans received. If the terms are met, the loans will be forgiven incrementally over the years of compliance. The bill also allows the State Board of Education to adopt necessary rules and regulations to implement the program effectively.