MS HB72

Establishes the Mississippi Promise Scholarship program administered by the Mississippi Community College Board to provide last-dollar scholarships covering tuition and mandatory fees not covered by Pell Grants or other state aid.

Eligible students must be admitted full-time to Mississippi community colleges or eligible postsecondary institutions in the fall following high school graduation, homeschool completion, or GED diploma (obtained before age 19).

Scholarship amounts are $1,500 per semester for full-time students at two-year institutions and $1,500 per semester for freshmen/sophomores at four-year institutions, increasing to $2,500 per semester for juniors and above.

Funding comes from two endowments: one from Mississippi Community College Board program revenues invested in the Postsecondary Education Financial Assistance Trust Fund, and another from lottery proceeds exceeding $80 million annually, with 33.333% of excess lottery funds transferred quarterly to the Mississippi Promise Scholarship endowment.

Students must maintain satisfactory academic progress, participate in mentoring and community service, and can receive the scholarship until earning an associate's degree or reaching limits of five years of enrollment or 90-100 semester hours attempted, depending on program length.