The bill establishes the Wyoming Veteran Loan Repayment Program, which is to be administered by the University of Wyoming. This program aims to provide loan repayment for veterans who are enrolled in master's or doctoral programs in social work, counseling, or psychology and who commit to providing mental health services to veterans within the state. To qualify, applicants must be U.S. citizens or eligible noncitizens, veterans, and in good standing in their academic programs. The loans will cover the cost of attendance, which includes tuition, fees, and other related expenses, and will be prioritized after any other grants or funding the applicant may receive.

The bill outlines specific eligibility criteria, repayment conditions, and the responsibilities of the University of Wyoming in managing the program. Recipients can repay their loans through service, and there are provisions for monetary repayment if they do not complete their programs or secure relevant employment within a specified timeframe. The program is funded by a $250,000 appropriation from the general fund, with the intent for this amount to be included in future budgets. The program is set to expire on June 30, 2035, and the University is required to report annually on its outcomes and financial status.