Directs the board to design the Washington zero interest loan program based on the following parameters: (1)(a) Loans shall be made to students graduating from public and approved private high schools under chapter 28A.195 RCW, students participating in home-based instruction as provided in chapter 28A.200 RCW, and persons twenty-one years of age or younger receiving a GED certificate, who meet the financial eligibility criteria in this section; (b) to meet the financial eligibility criteria, a student's family income shall not exceed one hundred thirty-five percent of the state median family income adjusted for family size, as determined by the board for each graduating class. Students not meeting the eligibility requirements for the first year of the loan may reapply for a second year, but must still meet the income standard set by the board for the student's graduating class.

(2) Zero interest loans are not intended to supplant any grant, scholarship, or tax program related to postsecondary education.