HI SB2594

Establishes a student loan subsidy program administered by the Department of Education to provide financial support to teachers in special education or vocational/technical/career path programs.

Eligible teachers must agree to teach in public schools for a minimum of three consecutive years and can receive subsidies up to $10,000 for repayment of federal, state, or private student loans.

Eligibility determined on competitive basis with consideration of financial need; applicants must provide proof of employment in approved content areas and comply with department conditions.

Teachers who terminate employment in approved content areas during the academic year must return any unused subsidy portion to the department for redistribution.

Appropriates $5,000,000 from general revenues for fiscal year 2016-2017 to establish the student loan subsidy program special fund; fund balance does not lapse at year end.