Senate Bill 2272 Summary

• Creates skilled workforce student loan repayment program fund and skilled workforce scholarship fund with continuing appropriations for eligible applicants completing high-demand professional or technical educational programs

• Maximum student loan repayment grant is $5,667 annually or one-third of outstanding principal balance, whichever is less, with a $17,000 lifetime maximum; scholarship awards are limited to tuition, fees, books, and supplies required for qualifying programs

• Requires applicants to reside and work in North Dakota in eligible high-demand or emerging occupations for a minimum of three years following program completion

• Bank of North Dakota shall transfer $2,250,000 each to the student loan repayment fund and scholarship fund during the biennium July 1, 2021 through June 30, 2023

• State board of higher education may retain up to one-half of one percent of appropriated funds for program promotion and administration, effective August 1, 2023