MS HB934

Authorizes the Postsecondary Educational Financial Assistance Board to promulgate rules and regulations for administering the Southern Regional Education Board Contract Forgivable Loan Program under the regional education compact.

Expands the board's authority to operate forgivable loan programs including the Graduate Teacher Forgivable Loan, Counselor and School Administrator Forgivable Loan, Southern Regional Education Board Doctoral Scholars Forgivable Loan, and Veterinary Medicine Minority Forgivable Loan.

Grants the board power to establish eligibility requirements, determine maximum loan amounts, set contract terms and service requirements, and allocate funds from annual student financial aid appropriations for program operation.

Requires certified teachers at the Oakley Youth Development Center under the Department of Human Services be made fully eligible to participate in the Graduate Teacher Summer Scholarship program.

Brings forward Section 37-135-1 establishing the compact for regional educational institutions in southern states, with governance through a Board of Control consisting of each state's governor and four appointed citizens, effective July 1, 2016.