Relating to the student loan program administered by the Texas Higher Education Coordinating Board; authorizing the issuance of bonds.
Impact
By allowing the issuance of bonds under the newly defined parameters, SB1799 potentially increases the total amount of funds available for student loans. The bill specifies that the total amount of bonds issued in a fiscal year may not exceed $350 million, which represents a significant increase from previous caps. This increase in funding could benefit a larger number of students, alleviating some financial barriers they may face when pursuing higher education.
Summary
SB1799 is a legislative bill designed to amend existing laws related to the student loan program administered by the Texas Higher Education Coordinating Board. The primary purpose of the bill is to authorize the issuance of general obligation bonds to finance educational loans for students in Texas. This change aims to expand financial support options for students seeking higher education and to enhance the operational capacity of the coordinating board in managing such programs effectively.
Contention
While the bill focuses on enhancing the availability of educational loans, discussions surrounding its implementation may spark debate among stakeholders. Some may argue about the implications of increased debt for students and the responsibilities of the Texas Higher Education Coordinating Board in managing these funds. Furthermore, concerns may arise regarding the potential long-term effects of such bond issuances on the state's budget and economic stability, underscoring the need for prudent fiscal management.
Enabling for
Proposing a constitutional amendment providing for the issuance of general obligation bonds of the state to finance educational loans to students.
Relating to a report by the Texas Higher Education Coordinating Board regarding enrollment and success in higher education for students with disabilities.
Proposes temporary constitutional amendment allowing State constitutional convention convened to reform system of property taxation to propose statutory changes.
Proposes temporary constitutional amendment allowing State constitutional convention convened to reform system of property taxation to propose statutory changes.