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Committee sends bill to replace federal Grad PLUS gap with state-backed graduate loans
Summary
SB 8 was moved JFS to the floor with language extending the program runway; sponsors said the bill aims to replace low-interest Grad PLUS lending lost after HR 1 and to preserve graduate access to training in fields such as nursing and teaching.
The Higher Education Employment Advancement Committee voted to send SB 8, a proposal to support graduate students with state-backed, low-interest loans, to the House floor with JFS language that extends bond authorization to provide a longer runway for the program.
Chair summarized the urgency: “the federal grad student loan plus program was eliminated in HR 1, which means that, eventually, cumulatively, about $90,000,000 in low interest…
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