MO HB272

Adds forgivable loans to Missouri's Higher Education Academic Scholarship Program for students who completed secondary coursework in 2014-15 or later, with loans up to $5,000/year at four-year institutions and $2,000/year at community colleges, capped at $20,000 total

Loans are forgiven on a year-by-year basis when borrowers work full-time in Missouri, with employment required to begin within one calendar year of completing postsecondary education (including graduate programs)

Students graduating high school in 2016-17 or later must achieve proficient or advanced scores on Algebra I and English I end-of-course assessments, or qualifying scores on COMPASS/ACT math and English components, to be eligible

Creates the Higher Education Academic Scholarship Trust Fund in the state treasury to administer loans, with loan repayments and penalties credited back to the fund less up to 2% for administrative costs

Effective date of January 1, 2017