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PRESS RELEASE: Senator Megan Hunt Introduces Legislative Bill 835 to Allow 529 NEST College Saving Plans to Pay Student Loans

Lincoln, NE— 1.6.22 — Today, Senator Megan Hunt introduced LB 835 to provide an option that could help relieve student debtors’ loan balances: the 529 NEST college saving plan. Currently, 529 plans allow families to contribute money to an account, which grows on a tax deferred basis and can be withdrawn tax-free if it’s used to pay for qualified education expenses, like tuition or textbooks. In 2019, the federal SECURE Act created new flexibilities for 529 college savings plans, including one that allows these plans to be used to make student loan payments. However, the state’s existing statute prohibits Nebraskans from utilizing the newly granted 529 options. LB 835 will permit 529 planholders to use account assets to pay up to $10,000 in student loans per beneficiary to help.

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Intern With My Office!

Interns will gain a unique, first-hand understanding of the Nebraska Unicameral operations and the legislative process in a fast-paced environment. Internship applications are due Friday, November 19, 2021, by midnight. The selected applicants will begin their internship concurrently with the 2022 legislative session on January 5th.

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Senator Megan Hunt Receives The Council of State Governments 20 Under 40 Leadership Award

The Council of State Governments is excited to recognize Senator Megan Hunt as a recipient of the 2021 CSG 20 Under 40 Leadership Award. This annual honor highlights the outstanding work of 20 up-and-coming elected and appointed officials from across the country who not only exemplify strong leadership skills but have also demonstrated a true commitment to serving the citizens of their states.

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