Wisconsin § 39.397 - School leadership loan program.

§ 39.397. School leadership loan program.

39.397(1) (1) The board shall establish a loan program for students selected by the board in a competitive application process who meet all of the following requirements: 39.397(1)(a) (a) Are enrolled in a school leadership program at an institution of the University of Wisconsin System that permits students to earn degrees in less time than a traditional school leadership program and that includes a required mentorship or apprenticeship component. 39.397(1)(b) (b) Are nominated by a superintendent of a school district. 39.397(2) (2) 39.397(2)(a) (a) Loans under sub. (1) shall be made from the appropriation under s. 20.235 (1) (cu) . Except as provided in par. (b) , loans under sub. (1) shall be repaid at an annual interest rate of 5 percent. 39.397(2)(b) (b) The board shall forgive 25 percent of the loan and 25 percent of the interest on the loan for each school year the recipient satisfies all of the following: 39.397(2)(b)1. 1. The recipient is employed in a school leadership position in an elementary or secondary school in this state. 39.397(2)(b)2. 2. The recipient receives a rating of proficient or distinguished on the educator effectiveness system or the equivalent in a school that does not use the educator effectiveness system. 39.397(3) (3) The board shall deposit in the general fund as general purpose revenue-earned all repayments of loans made under sub. (1) and the interest on the loans. 39.397 History History: 2017 a. 59 .