Bill > SB3060

This bill appropriates over $54 million from the State General Fund and over $4.5 million from other sources, such as federal funds and grants, to the Board of Trustees of State Institutions of Higher Learning for the support and maintenance of financial aid scholarship, loan, and grant programs, as well as for the Mississippi Office of Student Financial Aid, for the fiscal year beginning July 1, 2026, and ending June 30, 2027. It also specifies that certain grant and loan programs, including the Southeast Asia POW/MIA Grant and various medical and social work loans, will not be available to students applying for the first time after July 1, 2026. The bill outlines intentions for funding out-of-state graduate and professional studies, prioritizing aid for students eligible under Section 37-106-39, and requires detailed annual reports on all financial aid programs, including recipient numbers, award amounts, and loan repayment status, while also prohibiting the release of official transcripts for students with overdue loan repayments. Additionally, it sets income thresholds for the Higher Education Legislative Plan Grant Program and designates specific funds for the FAITH Scholarship Program and the William F. Winter and Jack Reed, Sr., Teacher Loan Repayment Program, while also stating that students should not receive undergraduate grant aid from multiple state-supported programs simultaneously and must demonstrate eligibility each term to continue receiving aid. Finally, the bill includes provisions for budget request formatting, compliance with constitutional and statutory requirements regarding fees paid to financial institutions, preference for the Mississippi Industries for the Blind in purchasing, and a reappropriation of funds for specific scholarship and loan programs.

Budget and Finance

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB3060.xml