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IN HB1114
Bill
Status
Introduced
1/8/2015
Primary Sponsor
David Niezgodski
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AI Summary
- Provides annual grant awards of $2,500 to individuals employed full-time in qualifying occupations (social work, nursing, or teaching) in Indiana who have student loan debt
- Grant eligibility begins in the first month of the first year an individual is required to start repaying a student loan and continues for up to five consecutive years
- Grant amount for each year equals $2,500 multiplied by the ratio of full-time weeks worked in a qualifying year divided by 52 weeks
- Individuals must apply annually to the commission for approval to receive the grant award for each qualifying year
- Makes an annual appropriation from the state general fund to support the grant program, effective July 1, 2015
Legislative Description
Student loan assistance. Provides an annual grant award of $2,500 to assist an individual with student loan debt for each consecutive year the individual is employed full time in a qualifying occupation in Indiana, not to exceed five years. Specifies that eligibility for a grant award begins on the first month of the first year that an individual is required to start repayment of a student loan, the proceeds of which were used to fund the individual's education. Makes an annual appropriation.
Last Action
Authored by Representative Niezgodski
1/8/2015
Committee Referrals
Ways and Means1/8/2015
Full Bill Text
No bill text available