MS SB2585

Expands eligibility criteria to include teachers with nontraditional five-year alternate route licenses and allows repayment of both undergraduate and graduate educational loans.

Permits initial award recipients to retain eligibility for two additional awards (three total) subject to fund availability, changing the award structure from year-based to award-based.

Removes the previous limit of 150 new applicants per year and instead authorizes the State Financial Aid Board to develop rules limiting applications and awards to ensure program expenses do not exceed annual funding.

Maintains award amounts of $1,500-$3,500 for teachers in non-shortage areas and $4,000-$6,000 for those in critical shortage areas, with higher amounts for continued service in shortage areas.

Extends the tracking period for program recipients from their fifth teaching year to the fourth year after receiving their initial award.