Analyst: SB Page 1 5/8/23
OFA Bill Analysis
HB 6901
AN ACT CONCERNING A STUDENT LOAN REIMBURSEMENT
PROGRAM FOR CERTAIN PROFESSIONALS.
SUMMARY:
The bill establishes a pilot program to reimburse certain professionals
for student loan payments. The bill requires the Office of Higher
Education to determine eligibility and award grant payments. To be
eligible for a grant award, a professional must: (1) have attended a state
college or university and graduated with a bachelor's degree or left in
good standing prior to graduation; (2) currently be a resident of the
state, and have been a resident of the state for at least five consecutive
years after graduation; (3) earn the majority of their income from
employment within Connecticut for the two years prior to program
participation; (4) be employed full-time as a nurse, teacher or in the field
of child care, mental health or social services; (5) meet various income
eligibility; and (6) have a student loan.
Each participant is eligible for a loan payment reimbursement of up
to five thousand dollars annually, with a maximum of four years of
eligibility and up to twenty thousand dollars. Eligible participants are
required to volunteer for an approved nonprofit organization in the
state for at least fifty unpaid hours for each year of participation in the
program.
The Office of Higher Education is required to report annually on the
pilot program, beginning by January 1, 2025.
Additionally, the bill establishes a personal income tax deduction for
amounts reimbursed under the bill.
EFFECTIVE DATE: July 1, 2023 2023HB-06901-R00-BA.DOCX
Analyst: SB Page 2 5/8/23
COMMITTEE ACTION
Appropriations Committee
Yea 43 Nay 9