WAS LEG Student Loan Forgiveness


On Feb. 28, WAS LEG enacted bill re notice, calculation adjustments.


  • WAS LEG enacted HB1950 / SB6035 re the public service loan forgiveness program.
  • Amendments to WAS LEG 41.04.045, WAS LEG 41.04.055 and WAS LEG 43.41.425.
  • Bill Provisions
  • Program allows borrowers employed full-time in a public service job, and who have made 120 qualifying payments for certain qualifying loans, to get student loans repaid.
  • Modified State agency public service loan forgiveness employee notice requirements.
  • Also, modified full-time calculation adjustments for part-time academic employees.
  • Legislative History
  • On Jan. 8, 2024, bill was introduced in House; on Jan. 25, 2024, bill passed in House.
  • On Jan. 26, 2024, bill introduced in Senate; on Feb. 19, 2024, bill passed in Senate.
  • On Feb. 28, 2024, bill was approved by governor, enacted as Chapter 2, 2024 laws.
  • Effectiveness
  • Provisions of bill effective on Jun. 6, 2024.

Regulators WAS LEG
Entity Types Bank
Reference Ch. 2, Bill HB 1950, SB 6035, 2/28/2024; Citation: *WAS LEG* 41.04.045, 41.04.055, 43.41.425;
Functions Compliance; Financial; Legal
Countries United States of America
Category
State
Products Banking; Education; Loan
Regions Am
Rule Type Final
Rule Date 2/28/2024
Effective Date 6/6/2024
Rule Id 202735
Linked to N/A
Reg. Last Update 2/28/2024
Report Section US Consumer

Last substantive update on 03/02/2024