MS HB124

Creates the Mississippi Tuition Subsidy Forgivable Loan administered by the Postsecondary Education Financial Assistance Board for freshman through senior students attending state institutions of higher learning or public community/junior colleges in Mississippi.

Eligibility requires applicants to be Mississippi residents from families with prior year adjusted gross income at or below the federal poverty level, have high school graduation with a minimum 2.5 GPA, and maintain continuous enrollment with a cumulative GPA of at least 2.50.

Loan amount equals the difference between a student's tuition cost and all grants, scholarships, and other state and federal aid received; payments are mailed directly to the institution.

Students cannot receive loans for more than the equivalent semesters or quarters required to complete one baccalaureate degree or one certificate/associate degree program per institution.

Loan forgiveness is available for one year of the loan amount for each year of employment in a public service occupation after graduation; falsification of eligibility information is a misdemeanor punishable by up to $10,000 fine and one year in county jail.