MS HB1526

Creates a graduate degree teacher education incentive loan program for licensed teachers employed in Mississippi public schools for at least 3 years or university instructors in state institutions of higher learning for at least 3 academic years.

Authorizes loans up to $1,000 per month for each month of full-time graduate study in teacher education programs, with repayment deferred during enrollment.

Converts loans into interest-free scholarships through teaching service obligations of 2 years at any Mississippi public school district or state institution of higher learning.

Requires teaching service to discharge loan principal and interest at a rate of 2 years of service for each 1 year's loan amount, with students liable for any remaining balance if they fail to complete service obligations.

Effective July 1, 2013, with the Board of Trustees of State Institutions of Higher Learning authorized to establish implementing rules and regulations.