SB101 Summary

• Creates an early graduation scholarship program providing grants to Alabama students who graduate at least one semester early and attend in-state two-year or four-year institutions of higher education or vocational programs.

• Students graduating one year early receive up to $1,250 for year one and $750 for year two; students graduating one semester early receive up to $1,000 for year one and $500 for year two, with funds covering tuition, books, and fees.

• School districts transmit $2,200 per student graduating one year early or $1,700 per student graduating one semester early to the Alabama Commission on Higher Education for deposit into the Early Graduation Scholarship Fund.

• Eligible students must have passed all components of the high school graduation examination, been Alabama residents for 12+ months, and completed a free federal student aid application.

• Commission may retain up to 5 percent of fund monies for administrative costs and two full-time positions; must submit annual reports by December 1 to state leadership containing enrollment numbers, scholarship amounts, and fund balance information.