MO HB1308

Establishes forgivable loans in addition to academic scholarships under the Higher Education Academic Scholarship Program for eligible Missouri students attending approved institutions.

Eligible borrowers may receive forgivable loans covering tuition and required fees (minus the academic scholarship amount) for up to ten semesters, with loans forgiven through employment in Missouri beginning within one year of graduation.

Each twelve months of qualifying full-time employment in Missouri authorizes forgiveness of loans received within one academic year; borrowers who cease Missouri employment must repay outstanding balances with interest.

Adds new eligibility requirements for students graduating high school in 2016-17 or later, including proficiency in Algebra I and English I end-of-course assessments or equivalent qualifying scores on standardized tests.

Creates the Higher Education Academic Scholarship Trust Fund to administer forgivable loans, with repayments and penalties credited back to the fund; unexpended balances do not revert to general revenue.