Relating to guaranteed student loans and alternative education loans.
Impact
This bill is set to enhance the capacity of qualified nonprofit corporations to provide financial assistance for student loans by enabling them to issue revenue bonds secured by the revenues of guaranteed and alternative loans. By facilitating easier funding routes for education, the bill could expand access to educational financing for residents and students attending accredited institutions within Texas. It is expected that this will have a positive impact on student enrollment and retention in higher education institutions across the state.
Summary
House Bill 2911 aims to modify regulations surrounding guaranteed student loans and alternative education loans in Texas. The legislation specifies the powers of authorities regarding issuing revenue bonds for the purpose of financing these loans. It emphasizes the role of nonprofit corporations in the administration of the loans and establishes guidelines for the acquisition and servicing of education loans, making provisions that ensure compliance with both state and federal laws.
Contention
Notable points of contention about HB2911 center around the balance of authority between state and nonprofit organizations in administering student loans. Critics argue that a shift in responsibilities may lead to inconsistencies in loan availability based on geographical location or other criteria. Some stakeholders worry that prioritizing certain areas may adversely affect students in less targeted regions in terms of their access to educational financing options. Additionally, there may be concerns about the implications of allowing nonprofit corporations substantial control over student loan disbursement conditions.
Relating to establishing a program allowing certain students who are educationally disadvantaged, have a disability, or failed certain assessment instruments to use state money or money the state receives for the purpose from gifts and non-federal grants to pursue certain educational alternatives to public schools.
Relating to procedures for the alternative assessment or exemption from assessment of certain public school students who receive special education services and alternative accountability plans for certain campuses serving students who receive special education services.
Relating to a local optional teacher designation system implemented by a school district, a security officer employed by a school district, the basic allotment and guaranteed yield under the public school finance system, and certain allotments under the Foundation School Program; making an appropriation.
Relating to a public school student's transition from an alternative education program to a regular educational environment, including parental rights related to that transition, and the admission of certain students with a criminal or disciplinary history.
Relating to support for nursing-related postsecondary education, including scholarships to nursing students, loan repayment assistance to nurses and nursing faculty, and grants to nursing education programs.