CT SB00250

Establishes a student loan reimbursement program administered by the Office of Higher Education for Connecticut residents who graduated from a state university with a bachelor's degree.

Eligible applicants must be no more than 35 years old, have lived in Connecticut for at least 5 consecutive years since graduation, earn majority of income through Connecticut employment, have adjusted gross income not exceeding $100,000, and hold an eligible loan from the Connecticut Higher Education Supplemental Loan Authority.

Provides up to $5,000 annually per participant to pay down eligible student loans, with a maximum of $20,000 total and 4 years of participation per person.

Requires participants to volunteer at least 100 unpaid hours annually at an approved nonprofit organization in Connecticut, including possible service on nonprofit boards or military service.

Takes effect July 1, 2022; allows Office of Higher Education to use up to 2.5% of appropriated funds for program administration and promotion in fiscal year 2023.