The health care professional student loan repayment program; and to provide an appropriation.
Impact
The introduction of SB2287 aims to address the ongoing challenges related to the healthcare workforce in North Dakota. By offering financial relief to registered nurses saddled with student debt, the bill seeks to incentivize more individuals to enter and remain in the nursing profession. This effort could potentially alleviate staffing shortages in healthcare settings by making the profession more attractive and financially viable for new graduates.
Summary
Senate Bill 2287 establishes a health care professional student loan repayment program focused specifically on registered nurses in North Dakota. The bill proposes that the state will provide reimbursement for a portion of student loans taken by registered nurses, allowing for up to $4,000 in loan repayment per year, which may total a maximum of $20,000 over a 5-year period. To be eligible for these benefits, there is a requirement for matching funding, which must be equal to 10% of the amount requested by the nurse seeking repayment assistance.
Contention
While the bill may garner support from healthcare professionals and institutions that are keen on retaining nursing talent, there may be discussions around the financial implications for the state budget. The appropriation included in the bill totals $528,480 for the biennium, which raises questions about the allocation of state funds, especially amidst competing demands for financial resources within the healthcare sector. Additionally, there may be debates concerning the balance of supporting healthcare professionals while also ensuring other needs in the community are met.
The student loan repayment program; to provide an appropriation to the department of health and human services for the behavioral health loan repayment program; and to declare an emergency.
The skilled workforce student loan repayment and scholarship programs, Native American scholarships, and the North Dakota scholarship; and to provide an appropriation.