MS SB2373

Creates the "Skilled Nursing Home and Hospital Nurses Retention Loan Repayment Program" administered by the Mississippi Postsecondary Education Financial Assistance Board to provide loan repayment assistance to new nursing graduates employed in Mississippi.

Eligible applicants must be Mississippi residents, newly employed (within one year) as full-time licensed practical nurses or registered nurses at skilled nursing homes or general acute care hospitals, hold current Mississippi professional licenses, and have outstanding qualifying educational loans.

Provides maximum awards of $6,000 per year for up to three years of employment, paid annually to lenders after completion of each employment year.

Replaces the previous "Nursing and Respiratory Therapy Education Incentive Program" with this new retention program using $6,000,000 in Coronavirus State Fiscal Recovery Fund appropriations for fiscal year 2022-2023.

Repeals Mississippi Code Sections 37-106-59 and 37-106-60 (forgivable nursing loan programs) effective July 1, 2023, and sunsets this new program on July 1, 2027.