CO SB057

Department of Personnel must develop and distribute informational materials by December 31, 2019 about federal student loan repayment options and loan forgiveness programs (Public Service Loan Forgiveness Program and Teacher Loan Forgiveness Program).

Starting January 1, 2020 and annually thereafter, the Department of Personnel must distribute materials to state employees, school districts, state institutions of higher education, nonprofit public service organizations, and local governmental entities.

School districts, charter schools, boards of cooperative services, state institutions of higher education, and nonprofit organizations must annually distribute these materials to their employees and include them in new employee orientation.

Materials must include summaries of federal loan forgiveness and repayment programs, eligibility requirements, participation steps, and recommendations to contact loan servicers or state ombudsmen for additional information.

The Department of Personnel must maintain materials on its website, verify accuracy at least annually, and distribute updated materials to all covered entities.