Revise the quality educator loan forgiveness program to expand eligibility

HB 509 expands Montana's educator loan forgiveness program to cover all newly hired public school teachers in the state, with priority given to those hired in schools designated as "impacted" (where critical teacher shortages exist). It allows eligible teachers to receive up to $5,000 annually in loan repayment assistance over four years ($3,000-$5,000 per year for state-funded aid, plus an additional $5,000 from schools/districts). If funding falls short, the program prioritizes teachers in impacted schools and prorates payments proportionally among them. The bill takes effect July 1, 2025, applying to applications submitted on or after that date.