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SALT LAKE CITY (AP) -- Some teachers could have up to $15,000 in home loans forgiven if they teach in the same district or charter school for 10 years.
Rep. Lynn Hemingway, D-Salt Lake City, wants to make buying a home more affordable for new teachers. Hemingway is sponsoring a bill that would give teachers in their first five years of teaching $15,000 loans to buy homes. Teachers would pay interest on the loans, but the $15,000 principal would be forgiven if they met the requirement of teaching in the same district.
Teachers who taught in the same district or charter school for five years would have $5,000 forgiven.
Hemingway says the bill might be a long shot given the state's budget problems, but he's hopeful his colleagues will be supportive of it as a way to jump start the economy.
Information from: The Salt Lake Tribune
(Copyright 2009 by The Associated Press. All Rights Reserved.)
