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2017 SESSION

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HB 1895 Virginia Student Loan Refinancing Authority; established, refinancing loan guaranty program.

Introduced by: Marcia S. "Cia" Price | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Student Loan Refinancing Authority; refinancing loan guaranty program. Establishes the Virginia Student Loan Refinancing Authority (the Authority), to be governed by a 10-member board, for the purpose of developing and implementing a program by which the Authority may guarantee the obligations of an individual who incurred qualified education loan debt as a Virginia student at an institution of higher education in the Commonwealth under loans that refinance such education loan debt. The measure limits eligibility to individuals who have not received, and are not eligible to receive, relief under applicable federal student loan repayment or loan forgiveness programs. The Authority is authorized to issue bonds to finance its obligations under such loan guarantees.


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