HB 818 - Mississippi Student Forgivable Loan Programs

• Consolidates and clarifies multiple separate student financial assistance programs into unified Mississippi Postsecondary Education Financial Assistance Board framework

• Expands board membership from three (3) to nine (9) members, adding representatives from community colleges, independent colleges, Department of Employment Security, and State Superintendent of Education

• Authorizes board to collect reasonable collection costs and attorney's fees on defaulted loans and requires annual legislative reporting on fund recipients, award amounts, and forgivable loan repayment status

• Creates consolidated revolving loan fund and establishes uniform repayment options with choice between cash repayment or loan forgiveness through service in critical professions (teaching, nursing, health care, social work, law enforcement, medical/dental fields)

• Repeals outdated sections and consolidates overlapping programs while establishing new programs for speech-language pathologists, nursing education, graduate professional school study, health care professions, and family protection specialist social workers