CT SB01044

Establishes a Student Loan Subsidy Program under the Connecticut Higher Education Supplemental Loan Authority to reduce interest rates on authority loans for individuals employed in high-demand professions identified by the Chief Workforce Officer.

Requires the authority and Office of Workforce Strategy to jointly establish eligibility criteria and administrative guidelines covering applicant eligibility, interest rate subsidies, principal limits, employment verification, and termination of subsidies if employment requirements are no longer met.

Directs the Chief Workforce Officer to identify and annually update high-demand professions qualifying individuals for the program, with initial identification due by September 1, 2023.

Creates a separate nonlapsing account within the authority to hold program funds from state appropriations and bond proceeds, which shall be used only for subsidies and reasonable administrative expenses.

Authorizes the State Bond Commission to issue state bonds not exceeding $7 million annually to fund the program, with bonds maturing within twenty years and backed by the full faith and credit of Connecticut.