An Act to reduce graduate student loan debt
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| Committee | Recommendation | Vote |
|---|---|---|
| J26 | Accompanied | — |
Paragraph (12) of subsection (a) of Part B of section 3 of chapter 62 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by: (a) striking out, in line 92, the word “or” the first place it appears. (b) inserting after the word “two-year”, in line 92, a comma; and (c) inserting after the word “college”, in line 92, the following words: - “, or graduate education debt”.
Paragraph (12) of said subsection (a) of said Part B of said section 3 of said chapter 62, as so appearing, is hereby further amended by inserting after the second sentence the following sentence: - “For the purposes of this subparagraph, the term ‘graduate education debt’ shall mean any loan which was or is administered by the financial aid office of a non-profit institution offering a graduate or professional degree program at which the taxpayer, or a dependent of such taxpayer, pursuant to subparagraph (3) of paragraph (b) of part B of this section, was enrolled as a graduate or professional degree student and which loan has been secured through a state student loan program, a federal student loan program or a commercial lender and which loan was obtained and expended solely for the purposes of paying tuition and other expenses directly related to such graduate or professional student enrollment.”.
SECTION 1. Paragraph (12) of subsection (a) of Part B of section 3 of chapter 62 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by: (a) striking out, in line 92, the word “or” the first place it appears. (b) inserting after the word “two-year”, in line 92, a comma; and (c) inserting after the word “college”, in line 92, the following words: - “, or graduate education debt”. SECTION 2. Paragraph (12) of said subsection (a) of said Part B of said section 3 of said chapter 62, as so appearing, is hereby further amended by inserting after the second sentence the following sentence: - “For the purposes of this subparagraph, the term ‘graduate education debt’ shall mean any loan which was or is administered by the financial aid office of a non-profit institution offering a graduate or professional degree program at which the taxpayer, or a dependent of such taxpayer, pursuant to subparagraph (3) of paragraph (b) of part B of this section, was enrolled as a graduate or professional degree student and which loan has been secured through a state student loan program, a federal student loan program or a commercial lender and which loan was obtained and expended solely for the purposes of paying tuition and other expenses directly related to such graduate or professional student enrollment.”.