Senate Bill 1040 Summary

• Renames the "Mathematics, Science and Special Education Teacher Student Loan Program" to the "Arizona Teacher Student Loan Program" and expands eligibility to all teaching fields, not just mathematics, science, and special education.

• Extends eligibility to students pursuing teaching degrees or alternative teacher certification programs, including those who obtain a bachelor's degree before entering a certification program.

• Allocates at least 40% of annual loan appropriations to applicants agreeing to teach in low-income schools, rural schools, or schools located on Indian reservations.

• Modifies service commitment requirements to allow teaching in these underserved schools in place of the previous geographic shortage areas designated by the state board of education.

• Extends the program termination date from July 1, 2017 to July 1, 2025 to allow the loan program to continue operating for eight additional years.