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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | March 2, 2015 11:55 AM |
|---|---|
| From: | Representative William C. Kortz, II |
| To: | All House members |
| Subject: | Co-Sponsorship of Legislation to establish the Loan Forgiveness for Dentists Act (Former HB 542) |
| In the near future, I intend to re-introduce House Bill 542 of the 2013-2014 Legislative Session, which would establish the Loan Forgiveness for Dentists Program in the Pennsylvania Higher Education Assistance Agency (PHEAA). According to the Pennsylvania Dental Association, on average, a dental student graduates with more than $200,000 in debt, and dentists who continue their education in specialty training typically assume an even greater amount. Graduating dentists quickly become small business owners subject to their state’s economy, taxes, regulations and insurance policies. Many dentists choose to relocate to an area with a large patient base in order to increase their chances of earnings and reduce their overwhelming debt. Unfortunately, in Pennsylvania only 30% of graduating dentists return to practice in our Commonwealth. It is my belief that we must offer a greater incentive to our students to pursue training in dentistry in order to maintain the delivery of quality dentistry in the Commonwealth. My legislation would establish the Loan Forgiveness for Dentists Program in which PHEAA would be able to forgive up to 50% of the dentist’s loan, not exceeding $100,000. The recipient would be subject to a four (4) year contract with the agency and the award would be forgiven over a four (4) year period at an annual rate of 25%. Please join me in encouraging quality dentistry in our Commonwealth by adding your name as a co-sponsor to this necessary legislation. Former HB 542 Co-Sponsors: Bishop, Sturla, D. Costa, Stern, O’Brien, Fabrizio, V. Brown, Boback, Cutler, Readshaw, Gibbons, Caltagirone, McCarter, Freeman, Kirkland, Murt and Cohen |
Introduced as HB1815