Maryland Senate Bill SB716

Maryland 2022 Regular Session

• Introduced: 2/7/22
• Refer: 2/7/22

Caption

Maryland Health Care Workers Loan Assistance Program - Establishment and Funding

Impact

The legislation is expected to have a positive impact on the state's health care workforce by easing the financial burden on those who have incurred educational debts in pursuit of their careers in health care. It instrumentalizes a structured approach to loan repayment where qualified applicants can receive up to $10,000 toward their health care-related education loans, allocated over three years, fostering ongoing support for health professionals in the state.

Summary

Senate Bill 716 establishes the Maryland Health Care Workers Loan Assistance Program aimed at providing financial assistance to health care workers for repaying health care-related education loans. The bill outlines the formation of a dedicated fund, which will be continually financed with state budget appropriations, interest earnings, and any other permissible contributions. The fund is set to receive an annual appropriation of $35 million from the state budget for the fiscal years 2024 through 2026.

Contention

While the bill has garnered support for addressing the financial challenges faced by health care workers, there could be concerns regarding the allocation of funds and the effectiveness of the program. Members of the legislature may debate the sufficiency of financial appropriations and whether the proposed assistance is adequate to meet the needs of all qualified applicants. Additionally, monitoring and regulation of the fund's distribution may be points of contention, ensuring that the assistance effectively reaches those in need.