Education (Student Financial Aid)

This bill grants a property tax exemption to the Alpha Omega Social Action and Scholarship Foundation for its building located at 1231 Harvard Street, N.W. The exemption applies only if the property is owned by the foundation and used for charitable or educational purposes rather than commercial activities. Additionally, the legislation requires the refund of all real property taxes, interest, and penalties assessed against this specific address between October 1, 2018, and September 30, 2026.

The DC Student Loan Authority Establishment Act of 2026 (B 26-0569) creates a public lending institution to provide new student loans and refinance existing debt for District of Columbia residents. It directly affects D.C. residents by offering loans with no application fees, 0% interest on the first $5,000, monthly payments capped at 10% of discretionary income, and repayment terms up to 30 years. Borrowers who complete 10 years of full-time public service (including education roles) may qualify for remaining debt discharge. The Authority, overseen by a 7-member board, must keep loan servicing in-house and publish annual financial reports. This replaces high-cost private loans with a public alternative focused on affordability and flexibility.

This bill creates a program offering zero-interest forgivable loans to cover tuition and living expenses for District residents pursuing apprenticeships or credentials in high-growth industries like technology, healthcare, construction, and early childhood education. It directly affects D.C. high school graduates and other residents facing financial barriers to training, providing support for tuition, childcare, on-the-job training, and living costs. Participants must live and work in the District after completing their program to qualify for loan forgiveness. The program is funded by a permanent Pathways to Prosperity Fund established under the bill.