(1)(a) There is established, to be administered by the board, a stipend loan program
for resident students, including registered nurses, who are:
1. Enrolled in the 2nd year in a program leading to an associate degree in nursing
in a technical college.
2. Enrolled as juniors in a program leading to a bachelor's degree in nursing in this
3. Enrolled as 3rd year students in a program leading to a diploma in nursing in this
4. Enrolled as seniors in a program leading to a bachelor's degree in nursing in this
5. Enrolled in a program leading to a master's degree in nursing in this state and
who intend to teach nursing at an institution of higher education located in this
(2) The board shall:
(a) Make stipend loans from the appropriations under s. 20.235(1)(cg) and (gg).
(b) Promulgate rules to administer this section, including rules establishing loan
amounts and the criteria and procedures for loan forgiveness and for selecting loan
recipients. Loan recipients shall be selected on the basis of financial need, as determined
by the board, using the needs analysis methodology used under s. 39.435.
(3) Beginning in the 1991-92 fiscal year, $15,000 annually shall be awarded under
sub. (1)(a)5 for stipend loans.
(4) The board may not make any original stipend loans under this section.
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