Workforce Development Through Post-Graduation Scholarships Act of 2023

HR 3582 (Workforce Development Through Post-Graduation Scholarships Act of 2023) makes certain post-graduation scholarship grants tax-exempt under the Internal Revenue Code. It directly affects graduates who receive grants from qualified nonprofits (501(c)(3) organizations) to repay student loans, provided they live and work in communities with below-average bachelor’s degree attainment rates. The bill requires grants to be paid directly to lenders, prohibits grants to the granting organization’s employees, and prevents double tax benefits by excluding related interest from income calculations. It also mandates Treasury and GAO reports on implementation and effectiveness within 3-5 years of enactment.