Provides a rebate for TOPS recipients who complete a baccalaureate degree in three years. (8/1/18) (OR DECREASE GF RV See Note)
By providing this financial incentive, SB141 seeks to encourage students to finish their degrees quickly, which can potentially reduce the overall cost of higher education for both individuals and the state. The rebate is structured to be available for up to three years, providing a clear incentive for graduates to remain in Louisiana after completing their education. However, if the three-year eligibility window is disrupted for reasons other than military service, the future rebates will be forfeited, which may deter some students from seeking additional opportunities or pursuing further education.
Senate Bill 141, introduced by Senator Gatti during the 2018 Regular Session, aims to incentivize students in Louisiana to complete their undergraduate degrees in a timely manner. Specifically, the bill proposes a rebate of $1,500 for recipients of the Taylor Opportunity Program for Students (TOPS) who earn their baccalaureate degree within three years of starting their program. To qualify for the rebate, students must meet several criteria, including being a Louisiana resident and current with their state income tax obligations.
The sentiment regarding SB141 appears to be generally supportive within legislatures focused on enhancing educational outcomes and retention in the state. Proponents argue that this initiative will not only benefit students financially but also the economy by encouraging graduates to stay in Louisiana. Critics may be concerned about the bill's requirements and the potential consequences for students whose academic plans diverge from the three-year timeline. Concerns can also arise around the expected funding sources for the rebates, as they are drawn from current collections of income tax.
Notable points of contention include the stringent eligibility requirements for receiving the rebate, which may be seen as too rigid by some. The provision that requires a successful and timely graduation within exactly three years could be challenging for students facing unforeseen circumstances. Additionally, the stipulation that individuals must remain in the state after graduation could lead to debates about personal freedom and the state's role in shaping educational paths. The sunset provision for applications received after December 31, 2027, may also spark discussions regarding the longevity and effectiveness of the program.