HI SB3232

Establishes a teacher loan program administered by the Department of Education in partnership with a financial institution to provide loans up to $5,000 per borrower to teachers who relocate to Hawaii or accept positions in hard-to-fill areas.

Provides loan forgiveness for borrowers who become a licensed teacher in Hawaii or commit to teach full-time for seven years in special education, regular education shortage categories, Title 1 schools, or rural schools.

Prioritizes eligibility for teachers who relocate to Hawaii or accept positions in different school complex areas.

Requires borrowers who fail to meet the seven-year teaching commitment to repay loans at terms set by the board with interest rates and repayment periods to be disclosed before loan issuance.

Creates a teacher loan program revolving fund to be supported by legislative appropriations, private contributions, loan repayments, and interest; allows up to 5 percent of outstanding loan amounts for administrative expenses.