The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
005
:
EDUCATION LOAN PROGRAM
(Cite as: 16 V.S.A. § 2869)
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§ 2869. Loan cancellation; mathematics, science, and computer science teachers
(a) Loans obtained under this subchapter may be partially or completely cancelled and
forgiven for a borrower who is employed for a complete academic school year as a full-time
licensed teacher:
(1) in a Vermont elementary or secondary school that is approved by the State Board; and
(2) in the subject area of mathematics, science, or computer science during a year when
there is a critical shortage of licensed teachers in that area.
(b) Annually, the Board of the Corporation shall determine, after consultation with the
Secretary, whether a critical shortage of licensed teachers exists in each of the
subject areas of mathematics, science, and computer science.
(c) The Board shall determine the amount of loan to be cancelled for each complete academic
year of teaching service. The amount cancelled for each year shall not exceed 25 percent
of the original principal amount plus any accrued interest.
(d) This section is subject to the availability of funds specifically appropriated for
loan cancellations under this section. (Added 1983, No. 76, § 1; amended 1989, No. 118, § 3; 2003, No. 86 (Adj. Sess.), § 29; 2013, No. 92 (Adj. Sess.), § 188, eff. Feb. 14, 2014.)