Bill > SB1121

This bill creates the "Missouri Higher Education Funding Policy Prioritization Act" and establishes two key components: a Higher Education Academic Scholarship Program and a new funding model for public higher education institutions. For the scholarship program, eligible Missouri students who score in the top five percent on the ACT or SAT will be offered academic scholarships, with those in the top three percent receiving up to $3,000 per year and those in the fourth and fifth percentiles receiving up to $1,000 per year (before the 2027-28 academic year). Starting in the 2027-28 academic year, scholarships will instead cover the actual in-state tuition for the first four semesters. The bill also requires the Missouri Department of Higher Education and Workforce Development to develop a new funding model for public higher education institutions that aligns funding with workforce needs, provides stable resources, and incorporates performance-based components. This model must be developed in consultation with public institutions, tested and reviewed by legislative members, and ultimately approved by the Coordinating Board for Higher Education and the General Assembly before becoming effective in the 2028-29 fiscal year. The goal is to create a more strategic approach to higher education funding that supports student success and meets the state's professional workforce requirements.

Education

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=437