FISCAL NOTE
Date Requested: March 18, 2025
Time Requested: 09:54 AM |
| Agency: |
Higher Education Policy Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 3496 |
Comm. Sub. |
HB3150 |
|
|---|
| CBD Subject: |
Education (Higher) |
|---|
|
FUND(S):
Special Revenue
Sources of Revenue:
General Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The bill details revisions to the Health Professionals Student Loan Programs. For the Medical Student Loan Program, it increases the maximum award amount, extends the repayment period, and delays the interest from accruing until repayment begins. The Medical Student Loan Program is funded through student fees at the medical schools and loans shall be determined by the availability of funds at each school in any given academic year. It also makes changes to the Health Science Service Program and Mental Health Loan Repayment Program. These proposed changes require the Higher Education Policy Commission to send funds directly to the federal student loan servicer once the participant's service is complete. Zero fiscal impact is estimated.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Memorandum
Person submitting Fiscal Note: Misty Price
Email Address: misty.price@wvhepc.edu