Nevada college aid bill lauded at state Senate hearing

CARSON CITY — The second of two bills aimed at making college more affordable for Nevada students attracted strong support in a hearing Friday before the Senate Education Committee.

Senate Bill 227 would allocate $5 million a year for need-based financial aid to degree-seeking students enrolled full time in a community college or Nevada State College. Grants would be calculated based on each student’s financial need after considering the student’s resources, the family’s resources and any federal aid.

Called the Silver State Opportunity Grant Program, it is sponsored by Sens. Ruben Kihuen, D-Las Vegas, and Ben Kieckhefer, R-Reno.

It could help as many as 1,000 students over the two years.

Crystal Abba, representing the Nevada System of Higher Education, called the measure a game changer for low-income residents who want to go to college and earn a certificate or degree.

Nevada ranks as one of the least affordable states in the nation for attending college when considering the total cost of attendance as a percentage of median family income.

In 2012, full-time attendance at a 2-year institution consumed 18.9 percent of the state’s median family income after financial aid. That ranked Nevada as the least affordable state in the nation, according to the National Center for Higher Education Management Systems.

Kihuen said there is no more important issue than helping Nevadans access higher education, both so they can improve their lives and also help with the state’s diversification efforts.

By 2020, 58 percent of the jobs in Nevada will require a certificate or college degree, he said.

On Thursday the same committee heard testimony on Senate Bill 215 from Senate Minority Leader Aaron Ford, D-Las Vegas, which would create a state program to refinance student loans to reduce their payments.

Ford’s bill, which has numerous co-sponsors, would require the director of the Department of Business and Industry to create a program to provide loans to refinance student debt through the use of revenue bonds.

Called the Student Loan Relief Act, it could help many of the 262,000 Nevadans who collectively owe about $7.2 billion in student loans, he said.

“Refinancing student loan debt, like refinancing your mortgage, is a logical way to save Nevadans real money,” Ford said. “Nevadans who take advantage of this program could save thousands of dollars.”

There is no program like it anywhere in the nation, he said.

Ford has proposed several amendments to the measure, including a requirement for completion of a certificate or degree for eligibility. It would double as an incentive for students to finish their education, Ford said. There would also be a residency requirement.

The bill was supported by several speakers, including a representative of the Nevada System of Higher Education.

No action has yet been taken on either measure.

Contact Sean Whaley at swhaley@reviewjournal.com or 775-687-3900. Find him on Twitter: @seanw801.