MI HB5466

Creates the "Early Childhood Educators Scholarship Act" to provide scholarships to educators and providers employed in early childhood education and care facilities in Michigan.

Establishes eligibility requirements including: Michigan residency, no 4-year undergraduate degree, at least 1 year of eligible employment at $17.00 per hour or less, enrollment in an approved associate or baccalaureate program, and no prior defaults on student loans.

Provides scholarship amounts of $400.00 per semester credit hour at 4-year institutions and $250.00 per semester credit hour at junior or community colleges, subject to appropriation.

Requires scholarship recipients to continue eligible employment during and for 1 year after program completion; recipients who fail to comply must repay all or part of scholarship funds plus interest and collection fees, with proportionate repayment options and hardship waivers available.

Creates the Early Childhood Educators Scholarship Fund within the state treasury, administered by the Office of Great Start under the Department of Education, with the State Treasurer managing fund investments and balances that do not lapse at fiscal year end.