Under House Bill no. 8-16-1, the existing national scholarship law will be improved and amended to encourage more private donors to give to scholarship funds.
The new law aims to allow private donors to receive tax refund status.
Under the existing law, the Palau National Scholarship Board is not recognized as a non-profit organization for taxation purposes, which discouraged donations from private sources.
The bill also cuts to six months the two-year grace period for repayment and for graduating scholars to return to Palau.
This is intended “to increase the likelihood that Palauan students will return and contribute to Palauan society by becoming gainfully employed in the public and private sectors of the economy after schooling.”
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