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."