TITLE: Relating to use of a tuition set-aside to fund the doctoral incentive loan repayment program.

SUMMARY: Relating to use of a tuition set-aside to fund the doctoral incentive loan repayment program.

FULL TEXT:
AN ACT relating to use of a tuition set-aside to fund the doctoral incentive loan repayment program. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 56.095, Education Code, is amended by adding Subsection (b) to read as follows: (b) Each institution of higher education shall set aside a portion of the tuition collected from each student enrolled in a doctoral degree program, other than a law or health professional degree program, equal to $4 for each semester credit hour for which the student is enrolled. The amount set aside shall be transferred to the comptroller to be maintained in the state treasury for the sole purpose of repayment of student loans of individuals employed as faculty and administrators at institutions of higher education in this state as provided by this subchapter. The money may be used only to provide loan repayment under this subchapter and to cover the costs of administering this subchapter. SECTION 2. Section 56.095(b), Education Code, as added by this Act, applies beginning with tuition paid for the 2019-2020 academic year. SECTION 3. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution.