Revise the quality educator loan forgiveness program to expand eligibility

This bill expands Montana's Quality Educator Loan Assistance Program to include all newly hired quality educators in public schools, with priority given to those working in schools facing educator shortages. Under the new rules, eligible teachers can receive up to three years of state-funded loan repayment assistance, with amounts increasing from $3,000 in the first year to $5,000 by the third year, plus an additional year potentially funded by their school or district. If available funds are insufficient to cover all applicants, the state superintendent will prorate payments, prioritizing educators in impacted schools before distributing remaining funds to others. The changes take effect on July 1, 2025, and apply to applications submitted on or after that date.