MS HB1005

Creates the Nursing and Respiratory Therapy Education Incentive Program as a forgivable loan program for students pursuing licensed practical nurse, registered nurse, advanced nursing degrees, or respiratory therapist certification

Requires loan recipients to enroll in an accredited nursing or respiratory therapy program approved by the board and enter into a contract obligating them to complete their studies

Loan forgiveness requires practicing nursing or respiratory therapy in Mississippi for at least 5 years after completing the course of study

Converts loans to interest-free scholarships at a rate of one-fifth of the total loan amount forgiven for each full year of service in Mississippi

Recipients who abandon or fail to complete the service requirement must repay the loan according to standard repayment provisions with interest

Effective date: July 1, 2022