MS HB171

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

Eligibility requires students to be Mississippi residents from families with prior year adjusted gross income at or below the federal poverty level, have a high school diploma with minimum 2.5 GPA, and be accepted for enrollment at a qualifying institution.

Renewal eligibility requires maintaining steady academic progress toward a degree, continuous full-time enrollment of at least two semesters or three quarters annually, and a cumulative GPA of at least 2.5.

Loan amount equals the difference between tuition costs and grants, scholarships, and other state and federal aid received; students may receive loans for no more than the equivalent semesters required to complete one degree or certificate program per institution.

Loan forgiveness occurs at a rate of one year of forgiveness for each year of employment in a public service occupation following graduation from the institution where the loan was awarded.