MN SF3499

Establishes a State Educational Service Award program administered by the commissioner of higher education for Minnesota residents who completed AmeriCorps or AmeriCorps VISTA service on or after July 1, 2016, and earned a federal education award.

State award amount equals one-half of the recipient's federal education award and may be used to repay qualifying student loans, pay postsecondary educational expenses, or pay job training expenses.

Recipients have up to seven years after completing their service program to use the award, with the commissioner maintaining records of remaining balances for partial use scenarios.

Awards are granted on a funds-available basis, with the commissioner authorized to proportionally reduce award amounts if appropriations are insufficient to cover projected demand.

Appropriates $5,300,000 from the general fund in fiscal year 2017 to the commissioner of higher education for the program.