MS SB3007

Appropriates $50,649,256 from the State General Fund to the Board of Trustees of State Institutions of Higher Learning for financial aid scholarships, loans, and grant programs for fiscal year 2024 (July 1, 2023 - June 30, 2024)

Authorizes an additional $4,740,000 from federal funds, grants, donations, and special source funds for financial aid programs, including GEAR UP Mississippi Scholarship Program matching funds

Allocates $2,000,000 from the Education Enhancement Fund for the William F. Winter and Jack Reed, Sr. Teacher Loan Repayment Program and $1,000,000 for the FAITH Scholarship Program for foster youth

Prohibits new applicants after July 1, 2023 from receiving funds through several legacy programs including the Southeast Asia POW/MIA Grant, State Medical Education Loan, State Dental Education Loan, and certain forgivable loan programs

Establishes income eligibility thresholds for the Higher Education Legislative Plan Grant Program at $39,500 annual adjusted gross income for families with one child, plus $5,000 for each additional child under age 21