Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Nurse Loan Forgiveness Act of
2002''.

SEC. 2. ESTABLISHMENT OF PROGRAM.

(a) Stafford Loans.--Part B of title IV of the Higher Education Act
of 1965 is amended by inserting after section 428K (20 U.S.C. 1078-11)
the following new section:

''SEC. 428L. LOAN FORGIVENESS FOR NURSES.

''(a) Statement of Purpose.--It is the purpose of this section to
encourage individuals to enter and continue in the nursing profession.
''(b) Program Authorized.--From the amount appropriated under
subsection (g) for any fiscal year, the Secretary shall, in accordance
with subsection (c), carry out a program, through the holder of the
loan, of assuming the obligation to repay a qualified loan amount for a
loan made under section 428 or 428H for any borrower who--
''(1) has been employed for 3 consecutive calendar years as
a full-time registered nurse in a health care facility or a
health care setting approved by the Secretary of Health and
Human Services for purposes of this section; and
''(2) is not in default on a loan for which the borrower
seeks forgiveness.
''(c) Qualified Loans Amount.--
''(1) In general.--Except as provided in paragraph (2), the
Secretary may, from funds appropriated under subsection (g)(1),
repay not more than $5,000 in the aggregate of the loan
obligation on a loan made under section 428 or 428H that is
outstanding after the completion of the third complete year of
nursing described in subsection (b)(1).
''(2) Additional amounts.--Notwithstanding the amount
specified in paragraph (1), the aggregate amount that the
Secretary may, from funds appropriated under subsection (g)(2),
repay is a total amount equal to not more than $12,000 for any
registered nurse who, in addition to meeting the requirements
of subsection (b), has been employed as required by such
subsection for 5 consecutive calendar years.
''(3) Award basis.--The Secretary shall make payments under
this subsection on a first-come first-served basis, subject to
the availability of appropriations.
''(4) Treatment of consolidation loans.--A loan amount for
a loan made under section 428C may be a qualified loan amount
for the purposes of this subsection only to the extent that
such loan amount was used to repay a Federal Direct Stafford
Loan, a Federal Direct Unsubsidized Stafford Loan, or a loan
made under section 428 or 428H for a borrower who meets the
requirements of subsection (b), as determined in accordance
with regulations prescribed by the Secretary.
''(d) Regulations.--The Secretary is authorized to issue such
regulations as may be necessary to carry out the provisions of this
section.
''(e) Construction.--Nothing in this section shall be construed to
authorize any refunding of any repayment of a loan.
''(f) Prevention of Double Benefits.--
''(1) National and community service.--No borrower may, for
the same service, receive a benefit under both this subsection
and subtitle D of title I of the National and Community Service
Act of 1990 (42 U.S.C. 12571 et seq.).
''(2) Direct loan forgiveness.--No borrower may receive a
reduction of loan obligations under both this section and
section 460A.
''(g) Authorization of Appropriations.--For fiscal year 2003 and
for each of the 4 succeeding fiscal years, there are authorized to be
appropriated such sums as may be necessary--
''(1) to repay loans in the amount specified in subsection
(c)(1); and
''(2) to repay loans in the additional amount specified in
subsection (c)(2).''.
(b) Direct Loans.--Part D of title IV of the Higher Education Act
of 1965 is amended by inserting after section 460 (20 U.S.C. 1087j) the
following new section:

''SEC. 460A. LOAN FORGIVENESS FOR NURSES.

''(a) Statement of Purpose.--It is the purpose of this section to
encourage individuals to enter and continue in the nursing profession.
''(b) Program Authorized.--From the amount appropriated under
subsection (g) for any fiscal year, the Secretary shall carry out a
program of canceling the obligation to repay a qualified loan amount in
accordance with subsection (c) for Federal Direct Stafford Loans and
Federal Direct Unsubsidized Stafford Loans made under this part for any
borrower who--
''(1) has been employed for 3 consecutive calendar years as
a full-time registered nurse in a health care facility or a
health care setting approved by the Secretary of Health and
Human Services for purposes of this section; and
''(2) is not in default on a loan for which the borrower
seeks forgiveness.
''(c) Qualified Loans Amount.--
''(1) In general.--Except as provided in paragraph (2), the
Secretary may, from funds appropriated under subsection (g)(1),
cancel not more than $5,000 in the aggregate of the loan
obligation on a loan made under section 428 or 428H that is
outstanding after the completion of the third complete year of
nursing described in subsection (b)(1).
''(2) Additional amounts.--Notwithstanding the amount
specified in paragraph (1), the aggregate amount that the
Secretary may, from funds appropriated under subsection (g)(2),
cancel is a total amount equal to not more than $12,000 for any
registered nurse who, in addition to meeting the requirements
of subsection (b), has been employed as required by such
subsection for 5 consecutive calendar years.
''(3) Award basis.--The Secretary shall cancel loan amounts
under this subsection on a first-come first-served basis,
subject to the availability of appropriations.
''(4) Treatment of consolidation loans.--A loan amount for
a loan made under section 428C may be a qualified loan amount
for the purposes of this subsection only to the extent that
such loan amount was used to repay a Federal Direct Stafford
Loan, a Federal Direct Unsubsidized Stafford Loan, or a loan
made under section 428 or 428H for a borrower who meets the
requirements of subsection (b), as determined in accordance
with regulations prescribed by the Secretary.
''(d) Regulations.--The Secretary is authorized to issue such
regulations as may be necessary to carry out the provisions of this
section.
''(e) Construction.--Nothing in this section shall be construed to
authorize any refunding of any repayment of a loan.
''(f) Prevention of Double Benefits.--
''(1) National and community service.--No borrower may, for
the same service, receive a benefit under both this subsection
and subtitle D of title I of the National and Community Service
Act of 1990 (42 U.S.C. 12571 et seq.).
''(2) Stafford loan forgiveness.--No borrower may receive a
reduction of loan obligations under both this section and
section 428L.
''(g) Authorization of Appropriations.--For fiscal year 2003 and
for each of the 4 succeeding fiscal years, there are authorized to be
appropriated such sums as may be necessary--
''(1) to repay loans in the amount specified in subsection
(c)(1); and
''(2) to repay loans in the additional amount specified in
subsection (c)(2).''.
Output:
Nurse Loan Forgiveness Act of 2002 - Amends the Higher Education Act of 1965 (HEA) to include, under HEA student loan forgiveness and cancellation programs, nurses who serve three consecutive complete years in an approved health care facility or setting.