Creates the commercial aeronautics loan and loan forgiveness program.

Requires the secretary of the department of transportation to: (1) Administer the program;

(2) Design and implement a low-interest commercial aeronautics student loan program;

(3) Establish eligibility criteria for applicants to qualify for a loan; and

(4) Establish a loan forgiveness program that provides for part of a student's total loan amount to be forgiven if certain criteria are met.

Creates the commercial aeronautics transfer account.