Bill > S618

Introduced Session

This bill establishes the Volunteer Emergency Responder Loan Redemption Program in the Higher Education Student Assistance Authority. To be eligible to participate in the program, an applicant must: · be a resident of the State; · be an active volunteer emergency responder; · have completed an undergraduate degree or certificate program at an in-State institution of higher education; and · provide the authority with a sworn or official statement from the chief or other presiding officer with the volunteer fire company, the volunteer first aid, rescue or ambulance squad, or the county or municipal volunteer Office of Emergency Management, as appropriate, attesting that the applicant is an active member in good standing. The redemption of loans under the program would amount to $16,000 or the outstanding balance of eligible student loan expenses, whichever is less, in the following manner: · first year of active service following graduation from the degree or certificate program, an amount up to $4,000, but not to exceed 25 percent of the original qualifying loan; · second year of active service following graduation from the degree or certificate program, an amount up to $4,000, but not to exceed 25 percent of the original qualifying loan; and · third year of active service following graduation from the degree or certificate program, an amount up to $8,000, but not to exceed 50 percent of the original qualifying loan.

AI Summary

Committee Categories

Holly Schepisi (R)*, 

Introduced in the Senate, Referred to Senate Higher Education Committee (on 01/11/2022)

Official Document