SB 274 - STEM Teacher Loan Forgiveness Program

• Creates the STEM Teacher Loan Forgiveness Program administered by the Department of Education to encourage qualified college graduates to teach science, technology, engineering, or mathematics courses at Florida public schools.

• Requires eligible candidates to be graduates of Florida public postsecondary institutions offering 4-year degrees or teacher certifications, hold a valid Florida educator certificate, and be employed by a school district teaching STEM courses at public schools.

• Authorizes the department to make loan payments of up to $16,000 on behalf of candidates after they complete 8 consecutive years of employment as a STEM teacher, with payments made directly to loan holders.

• Limits program coverage to loans used for tuition, books, and living expenses.

• Authorizes the department to recover administrative costs from program funds and allows the State Board of Education to adopt necessary rules; effective July 1, 2017.