AR HB1426

Creates the Arkansas Future Grant Program within the Department of Higher Education to provide grants covering tuition and fees at approved state institutions (two-year colleges, four-year universities, technical institutes, and nursing schools) for eligible students.

Eligibility requirements include Arkansas residency, enrollment in science, technology, engineering, mathematics, or regional high-demand field programs leading to an associate degree or certification, and completion of a Free Application for Federal Student Aid.

Grant amount equals tuition and fees minus state-supported aid, federal aid, and private scholarships; capped at the average cost of two-year institution tuition for students attending four-year institutions.

Recipients must enter a written agreement requiring monthly mentoring, 15 hours of community service per semester, and three years of state residency plus employment within six months of graduation, or the grant converts to a repayable loan.

Repeals the Arkansas Workforce Improvement Grant Program (Subchapter 16), the Higher Education Opportunities Grant Program (Subchapter 17), and existing recipients are grandfathered under prior law; emergency clause makes the act effective immediately for the 2017-2018 academic year.