Substitute House Bill No. 6074 establishes a student loan reimbursement program under the Office of Higher Education, set to take effect on July 1, 2025. The program will reimburse eligible individuals for their student loan payments, contingent upon specific criteria such as graduating from a public or independent institution in Connecticut, holding an occupational or professional license, or being enrolled in a practical nurse education program at Stone Academy during a specified timeframe. Notably, the bill introduces provisions that allow individuals who were enrolled in the practical nurse program from November 1, 2021, to February 28, 2023, to qualify for reimbursement even if they did not complete the program. The bill also sets income limits for eligibility and requires participants to volunteer a minimum of fifty hours annually for approved organizations.

Additionally, the bill outlines the application process, including documentation requirements for student loan status and volunteer hours, and specifies that participants can receive up to $5,000 annually for a maximum of four years, totaling no more than $20,000 in reimbursements. It repeals the existing Section 10a-19m and replaces it with the new provisions, reflecting changes in eligibility and program structure. The bill also expands the types of eligible volunteer activities and mandates the creation of a hardship waiver for those unable to meet the volunteer hour requirement. The estimated cost to the Office of Higher Education is around $16 million over four years, depending on the number of eligible applicants. The effective date for these changes is set for July 1, 2025.

Statutes affected:
HED Joint Favorable Substitute:
File No. 391: