SB 35 – Sen. Rogers:
Provides that an individual who: (1) obtained student loans to pay for postsecondary education from an institution located in Indiana; and (2) resides and works in Indiana after graduating from a postsecondary institution; may enter into an agreement with the state student assistance commission to have the commission assume the repayment of 25% of the principal and interest due on the student loan each year the individual resides and works in Indiana. Limits the repayment program to those students who graduate after June 30, 2007.
The question, as always, is how to pay for this sort of thing. But, it’s a nice idea. Pay 25% of the student loan obligation for the year if the individual went to college in Indiana and resides and works in Indiana. Wonder what happens if you get laid off at some point during the year? Or, if you only have to work for a portion of the year in question, can you just work one day that year and get your 25%? So, I guess there is more than one question. Still, a nice idea.
[tags]SB35-2007, brain drain, education[/tags]
If I was a student in college, I would make sure to delay graduation until after July 1st, 2007.
I wonder how graduate school works into this. Some students go directly to graduate school upon recieving their undergraduate diploma. Since most colleges suggest attending graduate school out of state and student loans are deferred until they get their doctorite would it still apply if they returned to Indiana for employment?
marie,
Well, here’s the full new text of the Indiana Code as currently proposed:
It doesn’t say immediately following, so by my utter layperson’s reading, I would assume that a person who attended an Indiana school and graduated with their B.A. or B.S. degree after 2007-06-30, but then went out of state to pursue a Master’s or Ph.D., would be eligible to have the state of Indiana pay 25% of their student loan repayments for their undergraduate student loans upon their return to and employment in Indiana.
Ah, so everyone’s going to get an applicable job right out of college, funded by the Indiana State Government? Sweet! Or does Burger King count as “in state employment?”
What if the student in question goes and works in France or Australia for the toll-road company? Is that still considered “in-state”? Or, the converse, if the student works ON the toll-road, is that considered “out-of-state?”
Jobs first – brains second. If you have great jobs that require brains and pay well, the brains will come from all over the world to live here.