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 bill repeals the existing Section 10a-19m and introduces new provisions that allow eligible individuals—such as graduates from public or independent institutions in Connecticut, licensed professionals, or those enrolled in designated nursing programs—to apply for reimbursement of their student loan payments. Notably, it expands eligibility to include individuals who were enrolled in the practical nurse education program at Stone Academy between November 1, 2021, and February 28, 2023, regardless of program completion. The bill sets income thresholds for applicants, with a maximum adjusted gross income of $125,000 for unmarried individuals and $175,000 for heads of household or married couples.

The bill also outlines participation requirements, including a commitment of at least 50 volunteer hours per year for nonprofit organizations, municipal governments, or the armed forces, while allowing for hardship waivers for those unable to meet this requirement. Participants must submit documentation of their loan status and volunteer hours, with reimbursement capped at $5,000 annually and a total limit of $20,000 over four years. The bill ensures that unspent funds for the program carry over from FY 25 to FY 26 and mandates the Commissioner of Higher Education to report on the program's effectiveness. The financial implications are significant, with estimated costs ranging from $1.3 million to $4 million annually, depending on the number of eligible participants.

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