GA HB130

Establishes the Pay As You Earn (PAYE) Education Program, a state student loan program where participating students pay $1,000 annually toward tuition while enrolled, with the remaining cost of attendance covered by the postsecondary institution

Requires graduates to repay 3% of their federal adjusted gross income annually for 15 years after graduation, or alternatively repay the total loan amount plus 3% simple interest within 10 years

All public eligible postsecondary institutions must participate, with at least 1% of incoming freshmen enrolled each year; private institutions may opt in

Provides a $1,000 annual tax credit to participating private institutions for each enrolled PAYE student, applicable to state income, sales, and property taxes

Students must be Georgia residents, graduates of eligible high schools, and complete bachelor's degrees within 4 years (or first professional degrees within 5 years); loan repayments are deductible from Georgia taxable income