AN ACT Relating to creating the wildlife college student loan program; adding a new chapter to Title 28B RCW; and providing an expiration date.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

(1) "Eligible student" means a resident student as defined in RCW 28B.15.012(2), who is registered and enrolled in a wildlife science or related science program as a major course of study at an institution of higher education, is making satisfactory progress defined by the institution, and has declared intention to work in the wildlife sciences industry.

(2) "Institution of higher education" has the same definition as "institution" in RCW 28B.92.030.

(3) "Participant" means an eligible student who has received a wildlife college student loan.

(4) "Program" means the wildlife college student loan program.

(5) "Student loan" means a loan that is approved by the student achievement council and awarded to an eligible student.

(6) "Wildlife science or related science program" means a major course of study in wildlife or related sciences offered at any institution of higher education in the state of Washington.

(2) The student achievement council may make awards to the extent funds have been appropriated for the purpose of this chapter, to match an equal public or private grant or donation.

(3) The maximum annual state contribution for the program shall not exceed one hundred thousand dollars unless specifically authorized in the omnibus appropriations act.

(4) The program shall be administered by the student achievement council. In administering the program, the student achievement council has the following powers and duties:

(a) To screen and select eligible students to receive a wildlife college student loan award;

(b) To issue student loan awards to the extent funds are available;

(c) To issue low-interest student loans;

(d) To establish an annual load limit equal to the cost of attendance minus any other financial aid received;

(e) To define the terms of repayment, including applicable interest rates, fees, and deferments;

(f) To collect and manage repayments from students who do not meet their obligations under this chapter;

(g) To solicit and accept grants and donations from public and private sources for the program;

(h) To monitor and ensure compliance with the matching requirements specified in section 4 of this act; and

(i) To adopt rules necessary to implement this chapter.

(2) The student achievement council shall deposit into the account all moneys received for the program. The account shall be self-sustaining and consist of all moneys received for the program. Revenues shall consist of appropriations by the legislature into the account, any private or public gifts, grants, or donations received by the student achievement council for this purpose, and participant repayments, including principal and interest. The maximum annual state funds contribution for the program shall not exceed one hundred thousand dollars unless specifically authorized in the omnibus appropriations act.

(3) Expenditures from the account may be used solely for student loans to participants in the program and costs associated with program administration by the student achievement council. No expenditures from the account may be made without matching private contributions to the program. Expenditures, in the form of matching funds, may not exceed one hundred thousand dollars annually.

(4) Only the executive director of the student achievement council or the executive director's designee may authorize expenditures from the wildlife college student loan match account. Authorization must be made as soon as practicable following receipt of proof of private matching contributions as required under subsection (3) of this section.

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