Budget Amendment ID: FY2027-S4-688

EDU 688

Student Loan Deferment for Young Parents and Families

Mr. Fattman moved that the proposed new text be amended by inserting after section X the following section:-

“SECTION X. Chapter 15C of the General Laws, as appearing in the 2024 Official Edition, is hereby amended by adding the following section:-

Section 30. As used in this section, the following words shall have the following meanings unless the context clearly requires otherwise:

'Newborn child', a child not more than 6 months of age.

'Student loan', a loan primarily used to finance education or other school-related expenses.

'Borrower', a resident of the commonwealth who has received or agreed to pay a student loan or a person who shares responsibility with that resident for repaying the student loan.

The Massachusetts Educational Finance Authority, in consultation with the Office of the Attorney General, shall promulgate regulations and develop a program to allow for the deferment of student loans dispersed by the Authority by any borrower who is pregnant or who is a parent or guardian caring for or adopting a newborn child. Said regulation shall: (i) include a deferment period of not less than 6 months; (ii) require a birth certificate, adoption certificate, or appropriate documentation from a healthcare professional or primary care doctor; and (iii) be established no later than December 31, 2027.”