MS HB169

Creates the Mississippi Tuition Subsidy Forgivable Loan administered by the Postsecondary Education Financial Assistance Board for full-time students at state institutions of higher learning and public community or junior colleges in Mississippi.

Limits eligibility to Mississippi residents from families with prior year adjusted gross income at or below the federal poverty level, with a minimum high school GPA of 2.5, and requires completion of Free Application for Federal Student Aid forms annually.

Sets loan amount as the difference between tuition costs and other grants, scholarships, and state and federal aid received by the student.

Requires students to maintain continuous enrollment of at least two semesters or three quarters per academic year and sustain a cumulative GPA of at least 2.50 to renew the loan; limits total aid to the equivalent semesters or quarters required for one degree or certificate program.

Forgives the loan incrementally for borrowers who graduate and work in public service occupations, with one year of the loan amount forgiven for each year of public service employment; penalties for falsifying information include fines up to $10,000, up to one year in county jail, and repayment of wrongfully obtained funds.