Bill Provides Incentives for Faculty at Tribal Colleges
Senate Democrats want to provide incentives to increase support for faculty at the nation’s tribal colleges. The new bill, S 340, would forgive educational loans for those who agree to serve as instructors at tribal institutions, most of which are two-year colleges. To qualify, individuals would have to work full time at a tribal college and not be in default on existing educational loans.
Under the plan, participants could have 15 percent of their loans forgiven during each of their first two years of service. The government would forgive another 20 percent after the third and fourth years of work, with the remaining 30 percent forgiven after five years of service.
An individual may have no more than $15,000 in loans forgiven over the five years, the legislation states. Amounts forgiven would not count as taxable income under the legislation, sponsored by Senate Minority Leader Tom Daschle, D-S.D., and nine other lawmakers. The bill was referred to the Senate Indian Affairs Committee.
© Copyright 2005 by DiverseEducation.com
