The California State University Forgivable Loan Program for students pursuing doctoral degrees is attracting qualified professors to job openings at Sacramento State and other California State University campuses.

The CSU system has hired 273 instructors who have taken advantage of the loan program since its inception in 1987. As of 2000, 23 Sac State professors had accepted forgivable loans.

Under the guidelines of the program, doctoral students can borrow up to $30,000 over five years. Those who earn a doctorate and then teach full time at a CSU campus have their debt forgiven at a rate of 20 percent of the total loan for each year in the classroom.

“It?s an incentive for people to pursue a Ph.D. and come back and teach at a CSU,” Marie Torregrosa, Sacramento State campus coordinator of the program, said.

“CSU is making an investment,” Timothy Fong said.Fong is the Sac State director of Asian American Studies and was one of the first people to sign on with the program nearly 15 years ago.

“It was very helpful to me personally. I could spend full time writing my dissertation,” Fong said.

The money helped him earn his doctorate in just five years, and he has been lecturing and teaching since 1992.

But not everyone is as successful, even with the incentive of the loan program.

Fong said that some people he knows are still working on their degrees even though they entered doctoral programs with him.Those who do not continue on to earn a doctorate, or who teach at a school outside the CSU system, must repay the loan at an 8 percent interest rate.

“It?s like any other loan,” Fong said.Fong paid $6,000 back during four years of teaching outside of the CSU, but settled into a career at Sac State in 1999.

Since Fong still owed $24,000 plus interest, the fact that the loan would be forgiven influenced his decision to teach here.”It was an important factor,” he said.

But the financial bonus was not the only draw.”I feel an obligation,” Fong said.

The CSU does not offer doctoral degrees, so students can attend any accredited university in the country and still receive funds.

Fong earned his doctorate from the University of California at Berkeley.

More than 1,400 students are in the forgivable loan program, and the CSU accepted another 97 applicants last year, according to the Chancellor?s office.

The deadline for application is Feb. 14.