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Senate committee hears bill to standardize repayment terms across Regents service scholarships
Summary
Senate Bill 50 would set a uniform 5% annual interest rate, fix accrual dates, allow the Board of Regents to recover collection costs and permit administrative charges for 11 state service scholarship programs; committee heard proponent testimony and asked the Regents for recipient and balance data.
Senate Bill 50, which would create uniform repayment terms for service scholarships administered by the Kansas Board of Regents, was the subject of a Senate Education Committee hearing where sponsors and the Board’s staff outlined the bill’s effects and answered committee questions.
The bill would establish an annual 5% interest rate on repayment obligations for service scholarships, set the accrual date as the date the obligation began as determined by the State Board of Regents, allow the Board to recover reasonable collection costs, and authorize the Board’s chief executive to set administrative charges and fees for administering those scholarships. The measure also makes conforming changes across…
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