A new bill in Connecticut will benefit a wider range of residents in student debt forgiveness once signed into law by the state Governor.
New Bill on Student Debt Forgiveness
State Rep. Corey Paris, D-Stamford, passed a new bill that expands student debt forgiveness in Connecticut. She said this during the meeting with the Higher Education Committee on Friday. Originally, the bill intends only to target certain professions but it was later amended.
In a published article in CT Examiner, the new bill on student debt forgiveness now includes a wider pool of professionals and they could apply for the two-year pilot program. Additionally, the new bill also includes those who attended trade school.
During an interview, Paris said, “It benefits all people, which I think is really important. There are a lot of different avenues to which people can benefit from this program. It’s not for the chosen view, but it’s for the greater good of all.”
Qualification and Income Limit Under the New Bill
Paris also mentioned that the new bill on student debt forgiveness has the support of both Republican and Democratic lawmakers. To qualify for the program, a person must have attended college in Connecticut and lived in the state for at least five years after graduating from college, according to a published article on a website.
On the other hand, the income limit to qualify for student debt forgiveness was also increased. Individuals who earn $100,000 is raised to $125,000 while from $125,000 to $175,000 for joint filers.
Paris explained, “The new Income and Living Index shows that it takes $90,000 a year for an individual to live somewhat comfortably in the state of Connecticut. We are understanding that people who even make $100,000 a year in our state – that’s not a lot of money.”