Amends TCA Title 49, Chapter 4.

This bill requires the Tennessee student assistance corporation (TSAC) to administer a law enforcement fellows program for talented Tennesseans who aspire to be law enforcement officers. Participation in the law enforcement fellows program will be limited to students: (A) Enrolled in a postsecondary degree program in this state that furthers the student's knowledge in law enforcement; and (B) Who pledge to work as a law enforcement officer in this state for at least one year. Program recipients must maintain continuous enrollment in a degree program leading to a career as a law enforcement officer in a higher education institution within this state. Each fellowship award will be in the amount of $5,000 and will be renewable up to three times, contingent upon satisfactory academic progress. Recipients who become law enforcement officers in this state will receive forgiveness of the fellowship balance based on one year's law enforcement service for each year the fellowship was awarded. TSAC will forgive the loan if, within seven years after graduation, the recipient works as a law enforcement officer in this state for three consecutive years, unless the recipient takes an approved leave of absence. TSAC will also forgive the loan because of the death or permanent disability of the recipient. (2) All scholarship loans will be evidenced by notes made payable to TSAC, which must bear interest at the rate of 9 percent per year beginning September 1 after completion of the program, or immediately after termination of the scholarship loan, whichever is earlier. The scholarship loan may be terminated by the recipient withdrawing from school or by the recipient not meeting the standards set by TSAC.