The bill H. 3577 aims to amend Section 59-110-60 of the South Carolina Code of Laws to enhance the availability of nursing education loans under the South Carolina Critical Needs Nursing Initiative Act. It introduces provisions for nursing education loans that can reach up to $40,000, depending on the educational path of the student, including licensed practical nurse diplomas, associate's degrees, and bachelor's degrees in nursing. The loans are contingent upon the recipient's agreement to practice nursing in designated critical needs areas within South Carolina after obtaining their nursing license.

Additionally, the bill stipulates that loan recipients must enter into a contract with the commission, committing to work in these critical areas for a duration equivalent to the number of years they received funding. The contract will include penalties for noncompliance, such as repayment of the loan with interest, and may allow for payment deferrals while the recipient is fulfilling their service obligation. This legislation is designed to address nursing shortages in specific geographic areas by incentivizing graduates to work where they are most needed.

Statutes affected:
12/12/2024: 59-110-60
Latest Version: 59-110-60