PRINTER'S NO. 793
No. 709 Session of 2001
INTRODUCED BY BISHOP, LEDERER, THOMAS, YOUNGBLOOD, WASHINGTON,
TRELLO, BEBKO-JONES, READSHAW, LAUGHLIN, HORSEY, WATERS,
STEELMAN, CORRIGAN, JOSEPHS, COSTA, HENNESSEY, HARHAI,
COLAFELLA AND JAMES, FEBRUARY 14, 2001
REFERRED TO COMMITTEE ON EDUCATION, FEBRUARY 14, 2001
AN ACT
1 Providing for forgiveness of student loans upon closing of
2 school.
3 The General Assembly of the Commonwealth of Pennsylvania
4 hereby enacts as follows:
5 Section 1. Forgiveness of loans.
6 Payment of a student loan awarded under any act of the
7 General Assembly shall be forgiven in the event of the closing,
8 because of bankruptcy or otherwise, of the school or other
9 institution of learning being attended by the student during the
10 school year.
11 Section 2. Application for another loan.
12 A student whose loan is forgiven under section 1 shall be
13 eligible to apply for and receive a loan for enrollment at
14 another school or institution of learning.
15 Section 3. Effective date.
16 This act shall take effect immediately.
A26L24MRD/20010H0709B0793