Bill > SB2008

This bill provides appropriations for student financial aid programs in Mississippi for the fiscal year 2025-2026. It allocates $47,255,243 from the State General Fund and $10,983,837 from federal funds, grants, and other sources to the Board of Trustees of State Institutions of Higher Learning for supporting financial aid scholarship, loan, and grant programs administered by the Mississippi Office of Student Financial Aid. The bill includes several key provisions: it restricts certain specialized loan programs for new applicants after July 1, 2025; prioritizes financial aid allocation for students under Section 37-106-39; requires a comprehensive annual report detailing financial aid recipients, award amounts, and repayment status; and establishes specific guidelines for various scholarship and loan programs. Notable programs mentioned include the GEAR UP Mississippi Scholarship, Higher Education Legislative Plan Grant Program, FAITH Scholarship Program, and the William F. Winter and Jack Reed, Sr., Teacher Loan Repayment Program. The bill also stipulates that no student should receive undergraduate grant aid from more than one state-supported program in the same term and that students must demonstrate ongoing eligibility to continue receiving state-supported aid. The appropriations will be effective from July 1, 2025, and are subject to standard state financial reporting and compliance requirements.

Budget and Finance

https://billstatus.ls.state.ms.us/20251E/pdf/history/SB/SB2008.xml