MO HB1254

Adds "approved virtual institutions" as a new category of eligible institutions for the Access Missouri Financial Assistance Program, alongside existing public and private institutions

Defines "approved virtual institution" as a nonprofit, regionally accredited institution that was recognized by gubernatorial executive order prior to August 28, 2015, maintains a physical location in Missouri, employs at least 25 full-time Missouri employees (half being faculty/administrators), and enrolls at least 1,000 Missouri residents

Sets financial assistance award amounts for students at approved virtual institutions at $2,850 maximum and $1,500 minimum for the 2014-15 academic year and subsequent years, matching the rate for public four-year and private institutions

Allows recipients to transfer between public, private, and virtual institutions without losing financial assistance eligibility

Requires students at all institution types, including virtual, to maintain a 2.5 GPA for renewal and limits total assistance to 10 semesters or 15 quarters