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Bill > SB50
KS SB50
KS SB50Establishing uniform interest rate provisions for service scholarship programs administered by the Kansas board of regents, authorizing the board of regents to recover the costs of collecting such repayment and charge fees for administration costs, requiring eligible students to enter into agreements with the board of regents as a condition to receiving a grant under the adult learner grant act and sunsetting the low-income family postsecondary savings accounts incentive program in 2028 and redu
summary
Introduced
01/21/2025
01/21/2025
In Committee
03/03/2025
03/03/2025
Crossed Over
02/19/2025
02/19/2025
Passed
04/10/2025
04/10/2025
Dead
Signed/Enacted/Adopted
04/10/2025
04/10/2025
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT concerning postsecondary education; relating to the financing therefor; establishing uniform interest rate provisions for scholarship programs that include repayment obligations as a condition of receiving a scholarship; authorizing the board to recover the costs of collecting such repayment obligations and to charge fees for the costs of administering scholarship, grant and other financial assistance programs; requiring eligible students to enter into agreements with the state board of regents instead of a postsecondary educational institution as a condition to receiving a grant under the adult learner grant act; reducing the number of grants available and audits required under the low-income family postsecondary savings accounts incentive program; providing the audit process for certain withdrawals made under such program; amending K.S.A. 74-3260, 74-3267, 74-3272, 74-32,104, 74-32,116, 74- 32,135, 74-32,153, 74-32,154, 74-32,223 and 75-650 and K.S.A. 2024 Supp. 74- 3295, 74-32,276 and 74-32,286 and repealing the existing sections.
AI Summary
This bill establishes uniform interest rate provisions for various service scholarship and grant programs administered by the Kansas Board of Regents. Effective July 1, 2025, the bill sets a standard 5% per annum interest rate for repayment obligations arising from scholarships and grants in Article 32 of Chapter 74 of the Kansas Statutes. The bill allows the Board of Regents to recover reasonable collection costs, including court costs, attorney fees, and collection agency fees, from individuals with repayment obligations. Additionally, the Board can charge fees for administering financial assistance programs to help cover operating expenses. The bill requires eligible students to enter into agreements directly with the Board of Regents for certain programs like the Adult Learner Grant Act. Another significant provision reduces the number of grants available under the Low-Income Family Postsecondary Savings Accounts Incentive Program from 1,200 to 1,000 per year and limits the program's application period to calendar years 2025, 2026, and 2027, after which no new applications will be accepted. The bill also modifies the audit process for withdrawals from these savings accounts, requiring retrospective audits of at least 10 withdrawals each year to ensure they meet qualified withdrawal criteria.
Committee Categories
Education
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Education (S)
Last Action
Senate Approved by Governor on Tuesday, April 8, 2025 (on 04/10/2025)
Official Document
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