The effectiveness of a loan program in providing an incentive for students to prepare for mathematics and/or science teaching in Washington State is described in this report. It is the third of a three part report to the Washington State Legislature regarding the Teacher Incentive Loan Program for Mathematics and Science. Recipients of forgiveness loans were surveyed to obtain information on: (1) the loan's role in influencing the recipient's decision to enter science and/or mathematics teaching; (2) the professional characteristics of the recipients; (3) the types of teaching positions obtained upon completion of teaching preparation programs; and (4) contrasts between recipients of loans and recipients who assumed teaching positions. Surveys were received from 197 of the 300 involved students. Half of the total number of recipients had completed their programs and about 50% were placed in full-time teaching positions. Responses suggested that the loan did not play a significant role in students' choice to major in mathematics or science but was a determining factor in the decision to remain in or enter teacher education. Placements were equally divided between mathematics and science. Gender differences were indicated with slightly more females (51%) completing the program but only 43% receiving placements and only 45% being eligible for forgiveness. (ML)