Substitute House Bill No. 6074 establishes a new student loan reimbursement program under the Office of Higher Education, set to take effect on July 1, 2025. The bill repeals the existing Section 10a-19m and introduces new eligibility criteria, allowing participation for graduates from public or independent institutions in Connecticut, holders of relevant occupational licenses, and former students of the practical nurse education program at Stone Academy during a specified timeframe. Participants must be state residents for at least five years, meet certain income thresholds, and possess a student loan. The bill also outlines the application process and requires the Commissioner of Higher Education to publish qualifications and forms for the program.

Additionally, the bill requires participants to volunteer a minimum of fifty unpaid hours per year for a nonprofit organization, municipal government, or the armed forces to qualify for reimbursement, with provisions for hardship waivers. The reimbursement is capped at $5,000 annually, totaling a maximum of $20,000 over four years. The bill allows for the appropriation of unspent funds to carry over into the next fiscal year and mandates biannual reporting on the program's effectiveness. Notable changes include the expansion of eligibility to include certain former Stone Academy students, modifications to the volunteer hour requirements, and the introduction of more flexible documentation for volunteer hours. The fiscal impact is significant, with potential costs depending on the number of eligible participants, estimated at around $1.3 million annually if all eligible students apply.

Statutes affected:
HED Joint Favorable Substitute:
File No. 391:
APP Joint Favorable Substitute:
File No. 911: