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House Bill 2,148: lawmakers hear sponsor and large public support for state 'Pay It Forward' graduate aid program
Summary
Sponsor Rep. Reid presented HB 2,148 to create a state Pay It Forward graduate loan program with income‑based contributions (up to 5% at research universities, 3.5% at regionals) and a maximum repayment period of 15 years. Counsel and multiple student and advocacy witnesses testified in strong support; the bill is silent on an interest rate and on a statutory per‑student cap.
The committee heard House Bill 2,148, a proposal to create a state‑run Pay It Forward program that would loan money to graduate students for tuition costs and require income‑based contributions after graduation to sustain the program for future cohorts.
Committee counsel summarized the bill: the program would lend for up to four years or 125% of program length, require contributions beginning one year after graduation, cap contribution rates by institution type (up to 5% of income for state universities and up to 3.5% for regional universities), require contributions to be prorated to the number of credits taken, and limit repayment periods to no more than 15 years. The Student…
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