To determine if a faculty or teacher at a state or nonprofit institution of higher education (institution) is a full-time employee under the federal public loan forgiveness program (program), the act requires the faculty's or teacher's credit or contact hours to be multiplied by at least 4.35 to determine the number of hours worked. The act directs institutions to either directly certify employment for the program or annually provide employees with partially completed forms to certify their employment. The act allows an institution to apply this calculation going back to October 1, 2007.
APPROVED by Governor March 23, 2023
EFFECTIVE March 23, 2023
(Note: This summary applies to this bill as enacted.)