SB157 - Fostering Hope Scholarship Act of 2015

• Creates Fostering Hope scholarship program administered by the Department of Human Resources beginning with the 2016-2017 academic year to provide tuition and fees for current or former foster children, including those adopted from foster care at age 14 or older.

• Program covers tuition and required fees at public two-year or four-year institutions, or approved job training courses and skill certifications at publicly funded programs, limited to 72 academic hours for associate's degrees or 144 academic hours for bachelor's degrees.

• Establishes eligibility requirements including: being in foster care or adopted from it at age 14+, having net personal assets under $30,000, being under age 26, maintaining adequate academic progress, completing FAFSA, and applying for all available federal aid grants.

• Includes mentor service component with compensated mentors to assist participants with independent living and academic adjustment; allows Department to use up to 10 percent of annual appropriations for mentor service costs.

• Scholarship funds apply to tuition and mandatory fees before other grants or scholarships; students with sufficient other funding to cover tuition and room and board are ineligible; law becomes effective October 1, 2015.