Fiscal Note
Fiscal Services Division
SF 288 – Teach Iowa Scholar (LSB1303SV)
Staff Contact: Ron Robinson (515.281.6256) ron.robinson@legis.iowa.gov
Fiscal Note Version – New
Description
Senate File 288 provides for the transfer of all funds that are available and that become
available in the Teacher Shortage Forgivable Loan Repayment Fund, established in Iowa Code
section 261.111, and the Teacher Shortage Loan Forgiveness Repayment Fund, established in
Iowa Code section 261.112, to the Teach Iowa Scholar Fund, established in Iowa Code section
261.110. The Bill appropriates the transferred funds to the College Student Aid Commission to
be used for the purposes of the Teach Iowa Scholar Program.
Background
The Teacher Shortage Loan Forgiveness and Forgivable Loan Programs are no longer
supported by State funding.
Fiscal Impact
The Iowa College Student Aid Commission estimates that as of January 11, 2021,
approximately $146,000 is available to transfer to the Teach Iowa Scholar Fund and
approximately $2,500 additional repayments are received each month. Under the Bill,
approximately $191,000 will be transferred to the Teach Iowa Scholar Fund in FY 2022.
Source
Iowa College Student Aid Commission
/s/ Holly M. Lyons
February 15, 2021
Doc ID 1212462
The fiscal note for this Bill was prepared pursuant to Joint Rule 17 and the Iowa Code. Data used in
developing this fiscal note is available from the Fiscal Services Division of the Legislative Services
Agency upon request.
www.legis.iowa.gov
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Statutes affected:
Introduced: 261.110, 8.33