Loading chat...
CT HB05233
Bill
Status
1/12/2023
Primary Sponsor
Higher Education and Employment Advancement Committee
Click for details
AI Summary
-
The Connecticut Higher Education Supplemental Loan Authority must establish an income-driven repayment option for loans made on or after January 1, 2024.
-
Borrowers must certify income and family size annually to calculate monthly payments as a percentage of disposable income.
-
Maximum monthly payments cannot exceed 10 percent of total income.
-
The authority shall qualify borrowers based on criteria ensuring marketability and adequate security for bonds issued under chapter 187b of the general statutes.
-
The act becomes effective July 1, 2023.
Legislative Description
An Act Requiring The Connecticut Higher Education Supplemental Loan Authority To Establish An Income-driven Loan Repayment Option.
Last Action
File Number 83
3/16/2023