IL SB4255

Creates the Nurse Educator Scholarship Fund as a special fund in the State treasury, with the Comptroller transferring $1,500,000 annually from the General Revenue Fund beginning July 1, 2023.

Establishes eligibility requirements for nurse educator scholarships including Illinois residency for at least one year, enrollment in a graduate nursing degree program, and agreement to meet nurse educator employment obligations.

Increases annual funding for nursing scholarships from the Nursing Dedicated and Professional Fund from $4,000,000 to $6,000,000 per fiscal year beginning in 2023, to be appropriated to the Illinois Student Assistance Commission.

Requires scholarship recipients to begin nurse educator employment within 12 months of graduation, with options to defer for military service or additional graduate study, and penalties of 7% annual interest plus repayment of scholarship funds for those failing to meet employment obligations.

Excuses repayment obligations for recipients who become permanently disabled, die, or are adjudicated incompetent, and allows deferment of obligations for those involuntarily leaving the profession due to staffing decreases.