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Governor Chris Sununu Letter to Senate President Soucy and House Speaker Shurtleff Regarding Student Debt Assistance Plan and Pending Legislation

For Immediate Release
December 17, 2019

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Concord, NH - Today, Governor Chris Sununu sent a letter to Senate President Donna Soucy and House Speaker Steve Shurtleff regarding his student debt assistance plan and pending legislation. If enacted, Governor Sununu’s student debt assistance plan will help students by reallocating $160 million over the next ten years to provide student debt-relief and direct scholarships. The legislation makes student debt relief available to eligible individuals who have worked in critical New Hampshire industries for a minimum of five years. The direct scholarships would be awarded according to existing criteria.

"Too many Granite Staters have been burdened by mountains of student debt for far too long," said Governor Chris Sununu. "In addition to investing $8 million in direct scholarships, this plan will invest $8 million a year to build a viable student debt-relief program that will be available to those who work in critical New Hampshire industries for a minimum of five years. Thanks to the strategic allocation of funds, this investment of $160 million over the next ten years comes at no expense to taxpayers, provides critical resources to strengthen New Hampshire's workforce, and ensures that the Granite State remains a leading destination for millennials. This solution is a win for all Granite Staters."

Our plan is the compromise we proposed during budget negotiations. Under the legislation, annual funds will be available to those who work in healthcare, state government, and advanced regenerative manufacturing in New Hampshire for a minimum of five years. An additional allotment will be invested annually in a direct student scholarship program. The legislation is funded by the surplus annual administrative fees stemming from the State's 529 college savings plans.