CT SB00838

Repeals and replaces Section 60 of Public Act 16-65, effective from passage.

Extends the deadline for the Student Loan Ombudsman's report from July 1, 2017 to October 1, 2017.

Requires the Student Loan Ombudsman to evaluate and report on the feasibility of establishing an income-share agreement program, where individuals commit to pay a specified percentage of future income for a specified period in exchange for education funding.

Directs the Ombudsman to conduct an analysis of an appropriate "commitment factor" (calculated as the percentage of future income multiplied by the number of years of payment obligation) under income-share agreements.

Defines "income-share agreement" as contracts for higher education, workforce development, or other purposes funded through future income payments rather than traditional student loans.