Bill Text: GA HB326 | 2011-2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: HOPE program; comprehensive revisions; provide

Spectrum: Slight Partisan Bill (Republican 5-2)

Status: (Passed) 2011-03-15 - Effective Date [HB326 Detail]

Download: Georgia-2011-HB326-Amended.html

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11 AM 21 3764

ADOPTED
Senators Cowsert of the 46th, Butterworth of the 50th, Staton of the 18th, Bethel of the 54th and Ligon of the 3rd offered the following amendment:

Amend the Senate Higher Education Committee substitute to HB 326 by inserting after "merit;" on line 10 the following:
to provide for loans to cover the difference between the amount of tuition and the HOPE award;

By inserting after line 671 the following:

SECTION 9.1.

Said article is further amended in Code Section 20-3-400.2, relating to eligibility, repayment period, maximum amount, interest rate, and requirements, by adding a new subsection to read as follows:

"(e.1) The annual interest rate for any GOT Student Loan shall be converted to 1 percent retroactive to the origination date of the GOT Student Loan for any student that has met the applicable eligibility requirements to receive a HOPE scholarship under Code Section 20-3-519.2 or a HOPE grant under Code Section 20-3-519.5 as follows:

(1) If attending an eligible public institution, an amount equal to the difference between the HOPE award amount and the then current academic year standard undergraduate tuition amount at the institution to be paid; and

(2) If attending an eligible private institution, an amount equal to the difference between the HOPE award amount and the HOPE tuition payment.

The provisions of this subsection shall be subject to funding."