CT SB00008

Connecticut Higher Education Supplemental Loan Authority must establish a Supplemental Graduate Student Loan Program effective July 1, 2026, providing loans to students enrolled in eligible graduate programs requiring a bachelor's degree for admission.

State Bond Commission authorized to issue up to $30 million in bonds to fund the program, with $10 million available July 1, 2026 and $20 million effective July 1, 2027; bonds mature within 20 years and are backed by the state's full faith and credit.

Private activity bond allocation amended to guarantee at least $60 million in bonds to the Connecticut Higher Education Supplemental Loan Authority annually.

Maximum aggregate bonds secured by special capital reserve funds increased from $300 million to $750 million for the Authority's education loan programs.

Authority must maintain a separate, nonlapsing account for the program to hold state appropriations and bond proceeds, used for administrative expenses and loan issuance.