MI SB0382

Creates the Michigan Achievement Scholarship providing last-dollar financial aid to Michigan residents who graduated high school in 2023 or later and attend eligible in-state institutions (public universities, community colleges, tribal colleges, or independent nonprofit colleges)

Guarantees tuition-free community college attendance for eligible students at in-district rates, with scholarship amounts covering tuition and mandatory fees minus all other gift aid received

Limits eligibility to students with a Student Aid Index of 30,000 or less (or expected family contribution of $25,000 or less for 2023-2024 recipients), requiring full-time enrollment and satisfactory academic progress

Caps scholarship duration at 5 consecutive academic years total, with no more than 3 years at community colleges or tribal colleges unless enrolled in a baccalaureate program

Requires participating institutions to report annually on institutional grant aid and comply with tuition restraint requirements; institutions exceeding tuition caps for 2 consecutive years may become ineligible for scholarship funds