SB174 Summary

• Creates the Alaska Scholars Program administered by the University of Alaska Board of Regents, providing tiered merit-based scholarships to top 15% high school graduates (100% tuition for top 5%, 75% for top 5-10%, 50% for top 10-15%).

• Requires Board of Regents to provide minimum $3,800,000 annually to fund scholarships covering tuition, fees, room, board, books, supplies, and transportation for University of Alaska students.

• Increases AlaskAdvantage Education Grant Program minimum annual distribution from unspecified amount to $10,000,000 and increases individual grant limits from $500-$2,000 per year to $1,000-$5,000, with lifetime cap raised from $8,000 to $20,000.

• Expands grant eligibility to include students attending certified career and technical school programs approved by Department of Labor and Workforce Development, not just federally approved institutions.

• Requires Alaska Commission on Postsecondary Education to fund at least five students annually for four-year programs in dentistry, optometry, and pharmacy.